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Forecast for the week of March 1, 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 were worse

Average mortgage rates got significantly worse last week, after the threat of a strongly improving economy and inflation continued to pressure rates higher.

This Week's Mortgage Rate Forecast

Rates could be volatile

Average mortgage rates this week are hard to forecast, and are overdue for a rebound from recent rate jumps but may get a bit worse before we see improvement. Markets are jumpy, and investors are still trying to price in concerns about inflation and a possibly overheating economy as the pandemic subsides and consumer spending increases. It's an important time to stay in touch with your mortgage professional, and to discuss your unique situation with them.

• Stimulus package: President Biden's $1.9 trillion stimulus package was approved in the House and must now clear the Senate before being signed by Biden. The stimulus package has helped pressure rates higher in recent weeks.
• Economic data: Most of this week's data shouldn't affect rates, but Friday's jobs data could cause some rate movement.
• Market volatility: Investors are trying to prepare for possible increases to inflation and a stronger than expected economic recovery for 2021, pushing rates up in the process.

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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