𝗙𝗼𝗿 𝘁𝗵𝗲 𝘄𝗲𝗲𝗸 𝗼𝗳 𝗝𝘂𝗻𝗲 𝟲, 𝟮𝟬𝟮𝟮
𝗥𝗲𝗰𝗮𝗽 𝗼𝗳 𝗹𝗮𝘀𝘁 𝘄𝗲𝗲𝗸: 𝗥𝗮𝘁𝗲𝘀 𝘀𝗹𝗶𝗴𝗵𝘁𝗹𝘆 𝗵𝗶𝗴𝗵𝗲𝗿 
After a couple of weeks of improving, mortgage rates moved higher again last week after the holiday weekend. The move higher confirms concerns that we were likely testing the best rates we have seen in awhile, and that rates might move higher.
𝗠𝗼𝗿𝘁𝗴𝗮𝗴𝗲 𝗥𝗮𝘁𝗲 𝗙𝗼𝗿𝗲𝗰𝗮𝘀𝘁: 𝗥𝗮𝘁𝗲𝘀 𝗰𝗼𝘂𝗹𝗱 𝗺𝗼𝘃𝗲 𝗵𝗶𝗴𝗵𝗲𝗿
Average mortgage rates could move higher again this week, ahead of next week's Fed meeting. Oil prices, already near a 3-month high, adding to concerns that inflation isn't ready to move lower yet. Although rates are creeping higher, there is an expectation they will fall back again and we are not yet at risk of seeing rates move significantly higher like we did earlier in the year. Unfortunately though rates will likely move higher before falling back again.
𝗪𝗵𝗮𝘁'𝘀 𝗮𝗳𝗳𝗲𝗰𝘁𝗶𝗻𝗴 𝗿𝗮𝘁𝗲𝘀 𝘁𝗵𝗶𝘀 𝘄𝗲𝗲𝗸:
- Economic data: A relatively quiet week, only Friday's inflation data is likely to play a role in rates for the week.
- Treasury auctions: This week's Treasury auctions are the first to take place since the Fed has started to reduce its balance sheet, and may play a larger role in rates than usual for the week.
- Fed speakers: Actually not affecting rates this week, speakers are in a blackout period before next week's meeting.
