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Forecast for the week of February 15, 2021

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 when securing low rates and payments.

Last Week's Mortgage Rate Recap

Rates slightly worse

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Average mortgage rates ended the week slightly worse after improving through the middle of the week.

This Week's Mortgage Rate Forecast

Rates likely to worsen

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Average mortgage rates are likely to get worse this week, creeping up from all time lows. It is a good time to discuss locking in a rate with your mortgage professional and to see if it is an option. Although rates are creeping higher, they are still near all time lows and it remains a good time to consider buying or refinancing.

What's affecting rates this week:

  • Stimulus package: President Biden's $1.9 trillion relief package is front and center now that the impeachment trial is over, and expectations that a bill will be passed soon are pressuring rates slightly higher.
  • Economic data: Although this week has some economic and housing data, it isn't likely to be much of a market mover and shouldn't affect rates.
  • Fed bond purchases: The Fed continues to buy Treasuries and mortgage bonds, helping to keep rates low and generally stable.
  • Bond pricing: Lenders set mortgage rates based on the pricing of mortgage bonds, and bonds are worsening to levels we haven't seen in months, pointing to at least slightly higher rates.

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:

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Hammer Solutions, LLC 260 Leaping Cat Ln Waynesville, North Carolina 28785 United States (973) 200-6808

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