For the week of November 22nd, 2021

Recap of last week: Rates basically unchanged
Average mortgage rates last week ended the week basically unchanged, although there were some days that provided slightly better rebate pricing than others. Rebate pricing is the credit you get towards closing costs from your lender, or the fee you pay to get a lower rate, often called 'points'.

Mortgage Rate Forecast: Rates could be volatile
This week is a holiday shortened week, with most lenders of course being closed on Thursday for Thanksgiving, but many also closed on Friday or working with a very small staff. The bond market, where the trading of mortgage bonds is responsible in large part for the movement in mortgage rates, will be closed on Thursday and will close early on Friday. We could see mortgage rates get slightly worse on Wednesday as inflation data and the minutes from the Fed's last meeting come out. Overall though, rates will remain low.

What's affecting rates this week:
- Economic data: Wednesday is a busy day for economic data, and we could see rates or rebate pricing make the biggest moves that day.
- Thanksgiving holiday: Investors will likely take off early Wednesday afternoon for a long weekend, and reduced trading volumes may add to interest rate volatility that day.