Freddie Mac's results of its Primary Mortgage Market Survey® shows that "Optimism continues as the economy slowly regains its footing, thus affecting mortgage rates. Though rates continue to rise, they remain near historic lows. However, when combined with demand-fueled rising home prices and low inventory, these rising rates limit how competitive a potential homebuyer can be and how much house they are able to purchase."

• 30-year fixed-rate mortgage (FRM) averaged 2.97 percent with an average 0.6 points for the week ending February 25, 2021, up from last month when it averaged 2.73 percent. A year ago, at this time, the 30-year FRM averaged 3.45 percent.

• 15-year FRM this week averaged 2.34 percent with an average 0.6 points, up from last month when it averaged 2.20 percent. A year ago, at this time, the 15-year FRM averaged 2.95 percent.

• 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.99 percent this week with an average 0.1 points, up from last month when it averaged 2.80 percent. A year ago, at this time, the 5-year ARM averaged 3.20 percent.