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Forecast for the week of February 26, 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.

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Last Week's Mortgage Rate Recap:

Rates were unchanged

Mortgage rates crept higher through the week last week, but a strong performance on Friday helped to end the week basically unchanged. Faced with the current rate climate, that's a win for the week.

This Week's Mortgage Rate Forecast:

Rates could move higher

This week there's a lot of economic data that markets will be watching that could push mortgage rates higher. If the economic data points to a strong economy, that means it is less likely the Fed will cut rates anytime soon... and that means mortgage rates will suffer for the week.

What's affecting rates this week:

• Economic data: This week has a full calendar, with reports every day as well as Treasury auctions through the week that could influence markets and affect mortgage rates. The biggest reports come out Thursday and Friday.
• Month's end: The underlying markets that set mortgage rates could be affected by traders positioning portfolios for month's end.
• The Fed: Rates hit their recent best levels in December when markets thought the Fed would be forced to cut in March or May to avoid doing damage to the economy, but mortgage rates have moved higher now that markets are speculating the Fed won't cut till June or even July.
  

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: