For the week of December 27th, 2021
Recap of last week: Rates remain low
Average mortgage rates last week remained low, as markets remain quiet while most investors take the remainder of the year off. Most lenders closed early on Thursday and were closed Friday in observance of Christmas.
Mortgage Rate Forecast: Rates should remain low
Average mortgage rates will remain low this week, and although there could be some small day to day movement in closing costs associated with your mortgage, rates shouldn't move much. The bond market and most lenders will be closed early on Friday for New Year's Eve.
What's affecting rates this week:
- Economic data: No important economic data this week, mainly just housing data that shouldn't affect rates at all.
- Omicron: Markets continue to speculate how omicron will affect the global economic recovery, but it shouldn't play much of a role this week as investors take the week off.
- New Year's Eve: Most lenders will close early on Friday for New Year's Eve.
