Mortgage rates edge lower, with refinances available at under 3% and even 2%Mortgage rates have backed down, one week after bolting higher, a closely watched survey shows. The pullback is giving homeowners more time to lock in low refinance rates. Borrowers who shop around are finding 30-year refi loans at rates deep beneath 3%, and 15-year mortgages at rates that are even lower. But interest rates are forecast to rise in the coming weeks and months, meaning the days of super-cheap refinance rates are numbered.

Rates on America’s most popular home loan, the 30-year fixed-rate mortgage, inched down to an average 2.86% last week, from 2.87% a week earlier, mortgage giant Freddie Mac reported on Thursday. The typical rate remains relatively close to January’s all-time low of 2.65%.

One year ago, 30-year rates were a more expensive 2.99%, on average.

Mortgage rates had made a sharp move higher during the previous week, but they leveled out as a disappointing report on U.S. retail sales caused the interest rates on U.S. Treasury bonds to go flat, explains George Ratiu, senior economist at Realtor.com. Rates tend to track the yield on the Treasury’s 10-year note.

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