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Forecast for the week of March 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 were slightly worse

Average mortgage rates ended last week slightly worse as traders and markets reacted to the passing of the American Rescue Plan stimulus bill with concerns of increasing inflation and a possibly overheating economy.

This Week's Mortgage Rate Forecast:

Rates likely volatile and could get worse

The big event this week will be the 2-day Fed meeting that concludes on Wednesday with a policy statement and press conference. Markets are likely to have a strong reaction to this month's meeting, as the Fed tries to defend its ultra-easy monetary policy outlook amid a quickening economic recovery and fears of inflation. Odds are high that we could see average mortgage rates continue the rising rate trend we've seen over recent weeks.

What's affecting rates this week:

• Fed meeting: The Fed will release its policy statement followed by a press conference this week, as traders look for signals of when the Fed will raise the fed funds rate or taper back bond purchases.
• Economic data: Most of this week's economic data isn't likely to cause any movements in rates.
• Bond yields: If bond yields continue to rise this week, it could be the precursor to increasing mortgage 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 .

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