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Forecast for the week of April 20, 2020

Knowing where interest rates are headed may help you to obtain a lower rate or lower fees.

Please enjoy this complimentary interest rate forecast to keep you informed of where interest rates may be headed, to help you gain the advantage when securing low rates and payments.

Last Week's Mortgage Rate Recap

Rates were slightly worse

Mortgage rates rose slightly last week compared to the week before, but were still near the average rates seen for the month. High unemployment and a weakening economy due to the COVID-19 pandemic kept rates low last week.

This Week's Mortgage Rate Forecast

Mortgage Rate Forecast: Rates likely to be unchanged or slightly worse

Mortgage rates should remain stable, meaning we could see small movements up or down but are not likely to see a large move either way. For some borrowers rates will remain the same but may have higher closing costs or points. If you're looking at closing soon, be sure to discuss your unique situation with your mortgage professional to decide if now is a good time for you to lock in your rate.

What's affecting rates this week:

• The Fed: Fed bond buying (called quantitative easing) is helping to stabilize rates and is keeping rates low.
• Forbearance requests: Borrowers requesting forbearance from mortgage payments are causing liquidity concern among mortgage servicers, pressuring rates higher. If you're considering forbearance, talk to a mortgage professional first to fully understand the pros and cons.
• COVID-19: Concerns over the economic fallout of the crisis continue to help keep rates low.

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 (888) 777-5555.

Interest Rate Forecast and Commentary provided by:

All information provided is for informational purposes only, and we assume no responsibility to any person who relies on information contained in this report, and disclaim all liability in respect to decisions or actions or lack thereof based on any or all of the contents of this report.

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