【Zillow】Mortgage Rates Move Lower as Investors Shift Out of Risky Assets

Mortgage rates moved lower last week, dipping below 4%.

Markets have been very volatile due to the Russian invasion of Ukraine. Amidst this uncertainty, a “flight to quality” – investors shifting out of risky assets – depressed rates, despite concerns over rising prices for goods and services and fast-increasing energy costs that have pushed U.S. gas prices higher. Last week’s data showed continued supply chain issues, inflationary pressures and stronger-than-expected job growth. But markets were revising expectations for how quickly the Federal Reserve will raise rates, with potential headwinds from Russian sanctions likely to slow economic growth.

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