For the week of September 8th, 2020

Recap of last week: Rates unchanged
Average mortgage rates among lenders improved early in the week before ending the week basically unchanged ahead of the Labor Day holiday.

Mortgage Rate Forecast: Rates will remain low
Average mortgage rates will remain low this week, but could fluctuate slightly day-to-day in the holiday shortened week. There's not much in economic data or market influencing news to provide a clear direction for rates this week, so it is a good idea to stay in touch with your local mortgage professional if you're close to locking in a mortgage rate.

What's affecting rates this week:
- Economic data: Not much data early in the week, but wholesale and consumer inflation data comes out Thursday and Friday, and could have a small effect on rates.
- Economic stimulus: The Fed continues to buy Treasuries and mortgage bonds, helping to keep rates stable and low.
- Stock markets: Stocks look poised to pull back this week, which could help bonds and help support low mortgage rates.
- FHFA Fee: A government fee from the Federal Housing Finance Agency imposed on refinances, recently delayed from being implemented but could affect refinance rates being locked in. Discuss this one with your mortgage professional.