Today's Mortgage and Refinance Rates: March 29, 2023 | Rates Inch up Slightly but Remain Low Overall

Mortgage rates have increased slightly over the past couple of days. But rates are still relatively low compared to earlier this month, when 30-year mortgage rates were inching up toward 7%. Rates are expected to drop this year, though the questions of when and how much are still up in the air. Investor expectations of fewer and smaller hikes from the Federal Reserve, turmoil in the banking sector, and the possibility of a looming recession have been putting downward pressure on mortgage rates. But what happens next depends on how the economy responds to these forces.