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After last week's big jump, mortgage rates pulled back slightly. However, that dip is expected to be short-lived.
Mortgage rates in the U.S. slipped to the lowest level in almost a month.
For the past month, mortgage rates have been treading water, unperturbed by the pandemic, economic data or world events.
After falling four of the past five weeks, mortgage rates reversed course and moved higher.
Mortgage rates showed little change this week, waiting for the outcome of the Federal Reserve meeting.
Long-term bond yields are unexpectedly falling, pushing mortgage rates down to February lows.