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Forecast for the week of February 28, 2022

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 unchanged

Average mortgage rates were worse to start the week after a 3-day weekend, but ended the week nearly unchanged after geopolitical concerns caused by the Russian invasion of Ukraine caused investors to seek safety in bonds, which normally helps mortgage rates.

This Week's Mortgage Rate Forecast:

Rates likely to continue higher

Mortgage rates are not likely to improve much, but could improve slightly this week from concerns about the sanctions imposed against Russia for invading Ukraine. Investors are worried that sanctions could affect the global economy, especially Europe's economy, which relies on Russian energy. Expectations of a Fed policy rate increase in March still remain, although markets now believe the Fed will only raise rates a quarter percent rather than the previously expected half point.

What's affecting rates this week:

• Economic data: A full week of data, but Friday's jobs data has the most potential to affect rates.
• The Fed: Mortgage rates may be helped this week by expectations of a smaller rate hike at the March Fed meeting.
• Russia/Ukraine: Russia has now invaded Ukraine, and continued pressure from western nations to retreat could help mortgage rates improve slightly.

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: