War in Ukraine pushes mortgage rates lower

Published: Mar. 3, 2022 at 11:51 AM CST
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(CNN) - The war in Ukraine is helping push mortgage rates lower – at least for now.

According to Freddie Mac, the 30-year fixed-rate mortgage averaged 3.76% in the week ending March 3, 2022.

It’s the second week in a row that rates have fallen, after weeks of increase.

The rates dropped as a result of receding U.S. Treasury yields, as investors moved to the safety of bonds due to Russia invading Ukraine.

Freddie Mac says rates will likely increase again in the coming months.

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