🏡 𝗙𝗼𝗿 𝘁𝗵𝗲 𝘄𝗲𝗲𝗸 𝗼𝗳 𝗦𝗲𝗽𝘁𝗲𝗺𝗯𝗲𝗿 𝟭𝟯, 𝟮𝟬𝟮𝟭
𝗥𝗲𝗰𝗮𝗽 𝗼𝗳 𝗹𝗮𝘀𝘁 𝘄𝗲𝗲𝗸: 𝗥𝗮𝘁𝗲𝘀 𝘂𝗻𝗰𝗵𝗮𝗻𝗴𝗲𝗱 👍
Average mortgage rates ended last week's holiday shortened week basically unchanged. Rates have continued a trend of stability over the last few weeks, with small movements day-to-day but no big jumps or drops in rates.
𝗠𝗼𝗿𝘁𝗴𝗮𝗴𝗲 𝗥𝗮𝘁𝗲 𝗙𝗼𝗿𝗲𝗰𝗮𝘀𝘁: 𝗥𝗮𝘁𝗲𝘀 𝘄𝗶𝗹𝗹 𝗿𝗲𝗺𝗮𝗶𝗻 𝗹𝗼𝘄 👍
Average mortgage rates are likely to remain low this week, as markets wait to see what the Fed will do at next week's Fed meeting. Rates are not likely to improve much from here, although we may see some small improvements in rebate pricing - the credit you get towards closing costs from your lender or the fee you pay to get a lower rate, often called 'points'. Be sure to consult your mortgage professional this week about the benefits of locking or floating.
🗓️ 𝗪𝗵𝗮𝘁'𝘀 𝗮𝗳𝗳𝗲𝗰𝘁𝗶𝗻𝗴 𝗿𝗮𝘁𝗲𝘀 𝘁𝗵𝗶𝘀 𝘄𝗲𝗲𝗸:
- Economic data: Inflation data on Tuesday could put a bit of pressure on mortgage rates, as could some retail sales data on Thursday.
- Fed stimulus: The Fed continues to buy Treasuries and mortgage bonds, helping keep mortgage rates low for now.
- Fed tapering: Rates may creep higher if markets speculate that the Fed may begin reducing Treasury and mortgage bond purchases at this month's Fed meeting, which will be held next week.
#mortgages #mortgagerates #realestate #mortgageinterest #homebuyingtips #realestateadvice #refinance
