On March 4, 2021, Freddie Mac announced that interest rates have risen above 3% for the first time since July 2020. This has many buyers, lenders, and agents worried that it will bring a halt to the current real estate market. However, there are multiple reasons why this can actually be beneficial to buyers and shouldn’t be a surprise.

Just a few months ago when COVID-19 lockdowns were imposed across the United States, many parts of the economy slowed down, people lost their jobs, and many people didn't leave their homes. As restrictions have lifted, one industry has seen a faster nationwide recovery than expected: real estate.

Economic uncertainty is a friend to low mortgage rates. There is plenty of apprehension in the news this month. So could the first quarter be a brief window for consumers to lock in bargain rates?