Mortgage Interest Rates Holding Steady this week February 17, 2022

Mortgage rates are about the same as they were in May 2019.  Definitely higher than what we have seen in the last two years.  But despite a multitude of news stories suggesting 30 year fixed mortgage rates somewhere in the mid to high 3.0% range, rates are actually around 4.0% and they have been since last Friday.

This happened pretty quickly.  We’re still seeing predictions for rates to average something in the low 3% range in the first quarter of this year, but we are already halfway through Q1 and rates are already up to an average of nearly 3.75% and rising every day.  Moreover, on each of the last 5 business days the average lender has been at or over 4.0%.