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Forecast for the week of March 27, 2023

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 moved lower

Rates were volatile last week as expected, but ended the week better as markets grew convinced the Fed would be forced to make March the last policy rate hike and would have to cut rates as soon as June despite Fed members signaling otherwise. The week ended with hope that we might see rates drop further this week based on market sentiment from Friday.

This Week's Mortgage Rate Forecast:

Rates could be choppy

The outlook for rates this week not looking as good as they did Friday after seeing rates move higher to start the week due to market sentiment shifting. Markets now speculating that the Fed could raise rates again in May, and although still anticipating rate cuts, markets now think those cuts will come later in the year. The outlook shifts quickly though, and any news that leads markets to anticipate an end to Fed rate hikes will help mortgage rates.

What's affecting rates this week:

• Economic data: Data later in the week includes GDP numbers and PCE inflation data. Signs of reduced inflation or economic slowdown could help rates.
• The Fed: As markets anticipate future Fed rate movements, mortgage rates will move up and down. Fed members speaking this week could swing sentiment, as well as any bank drama news.

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: