For the week of April 26, 2021

Recap of last week: Rates slightly improved
Average mortgage rates improved once again last week, despite a much higher likelihood that we were going to see rates worsen. There wasn't any particular reason for the rate improvement, it was more an effect of market trends.

Mortgage Rate Forecast: Rates will remain low
Rates this week will be influenced by the Fed and some economic data, and are likely to end the week near the same levels we start at. The recent string of rate improvement makes it a great time to talk with your mortgage professional about refinancing or purchasing a home.

What's affecting rates this week:
- Fed stimulus: The Fed continues to buy Treasuries and mortgage bonds, helping to keep rates low.
- Economic data: Lots of housing data this week, but that data won't affect rates. Inflation data later in the week could have some effect though.
- Fed meeting: Wednesday the Fed will release a policy statement from this month's meeting. Although the Fed won't raise policy rates, investors will be looking for signals for upcoming reductions to asset purchases which have been keeping rates low. We could see some volatility if investors find any Fed comments that cause concern.