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Forecast for the week of April 25, 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 a little higher

Although mortgage rates did end the week slightly higher, we're seeing signs that rates are stabilizing. Last week's moves were mainly due to markets reacting to the idea that the Fed would need to raise policy rates higher and sooner to get inflation under control.

This Week's Mortgage Rate Forecast:

Rates may still creep higher

It is looking like mortgage rates could improve a bit to begin the week, as the underlying market that rates are based on starts the week with some gains. However, it is important to realize that any improvements will be small and likely short lived, as rates are still trending higher. Although we could see rates creep up in smaller increments, we are still likely to see at least slightly higher rates as we head into May.

What's affecting rates this week:

• Economic data: A full slate of data, including some housing data and a few Treasury auctions, but not likely much to pressure rates this week.
• Supply chain concerns: China has locked down over 25 million people due to a coronavirus outbreak, some for 3 weeks already, sparking fears of a supply chain crisis since products cannot be manufactured or shipped. This would add to current inflation problems, and pressure mortgage rates higher.

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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