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Forecast for the week of April 29, 2024

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 unchanged

With little economic data and with traders waiting for this week's Fed meeting, rates moved slightly day-to-day but the moves were small and rates ended the week basically unchanged.

This Week's Mortgage Rate Forecast:

Rates could be volatile

This week brings major labor market data and the Fed meeting and press conference. Although we try to forecast what this will mean for mortgage rates, depending on what is said and how the data comes out this week we could see mortgage rates move significantly up or down. A good week to stay in touch with your mortgage professional.

What's affecting rates this week:

• Economic data: Wednesday brings the first of many jobs reports for the week, and Friday brings the BLS jobs data which will have the greatest effect on mortgage rates. Continued signs of a strong labor market will pressure mortgage rates to move higher, while any surprise weakness could help rates improve, although not likely by much.
• Fed meeting: Wednesday brings the Fed policy statement, where the Fed is expected to keep rates unchanged but to signal that cuts are not likely until much later in the year. Powell's press conference after usually causes a strong reaction in 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 .

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. This is not an offer to lend.