The average U.S. mortgage rate fell for the second consecutive week, down nine basis points to 3.04%, according to Freddie Mac’s Primary Mortgage Market Survey.

Despite rates mirroring mid-march levels, Sam Khater, Freddie Mac’s chief economist, doesn’t expect them to hold.

“The economy is improving on the demand side and on the supply side, a variety of goods and materials remain scarce,” said Khater. “As a result of this imbalance, pricing pressures are building and causing inflation to rise. Despite the pause in mortgage rates recently, we expect them to increase modestly for the remainder of details ⇒

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