Today’s Mortgage, Refinance Rates: March 12, 2022

Mortgage rates have been rising steadily ahead of next week

Federal Reserve

meeting, where the Fed is expected to raise the target fed funds rate by a quarter of a percent.

In response to high inflation, the Fed has been winding down its COVID-era policies, which were initially put in place to reverse the economic damage caused by the pandemic. This liquidation includes the gradual reduction of its asset purchases and the increase in the fed funds rate. As a result, mortgage rates are rising and will likely continue to rise through 2022.

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