Brought to you by
,

Forecast for the week of February 5, 2024

Please enjoy this complimentary mortgage rate forecast provided to keep you informed of where interest rates may be headed, and to help you gain the advantage in securing low rates and payments.

It is never our intention to send you spam.

If you don't want to receive future emails like this one, please
CLICK HERE TO UNSUBSCRIBE

Last Week's Mortgage Rate Recap:

Rates moved higher

Mortgage rates actually improved last week after the Fed meeting and press conference on Wednesday, but saw the gains disappear when Friday's jobs data came in crushing expectations with almost double the new jobs created than was forecast. Mortgage rates ended the week slightly worse than the previous week.

This Week's Mortgage Rate Forecast:

Rates likely to move higher

This week rates are likely to move higher as markets give up on a March Fed rate cut and start to question if we will even see one at the next meeting in May. Mortgage rates will creep higher if markets believe that the Fed will not cut until later in the year, and the strong economic data and labor market data we've seen the last few weeks makes it unlikely the Fed will need to cut rates to stimulate the economy anytime soon.

What's affecting rates this week:

• Economic data: There is no economic data this week that is likely to either push mortgage rates higher or lower.
• Fed speakers: There will be members of the Fed speaking every day this week, sharing their opinion on when the Fed should start cutting rates. Mortgage rates will creep higher if markets believe the Fed will not cut until later in the year.
  

If you would like to discuss interest rates further or find out the benefits of locking your rate today, please contact your mortgage professional at or .

Interest Rate Forecast and Commentary provided by: