Brought to you by
,

Forecast for the week of May 9, 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.

It is never our intention to send you spam.

If you don't want to receive future emails like this one, please
CLICK HERE TO UNSUBSCRIBE

Last Week's Mortgage Rate Recap:

Rates slightly higher

Average mortgage rates moved higher last week as markets adjusted to the Fed's half point rate increase and Fed Chair Jerome Powell's press conference. It is important to note that although the Fed's actions and comments did lead to rates creeping higher, the Fed does not set mortgage rates and mortgage rates did not move a half point higher.

This Week's Mortgage Rate Forecast:

Rate movement dependent on inflation data

Although the overall trend is for rates to creep higher, we could see rates improve a little bit as long as we don't get a negative reaction to this week's inflation data. However, if the reaction is negative, rates could worsen slightly.

What's affecting rates this week:

• Economic data: A quiet week for data, but Wednesday's consumer inflation data and to a lesser extent Thursday's wholesale inflation data could affect rates this week.
• China shutdowns: China's lockdowns continue, causing concerns that supply chain interruptions could once again contribute to higher inflation, which is not good for rates.
• Fed speakers: Markets are listening to Fed officials' comments, looking for clues on the Fed's intended actions. It is possible we could see comments that help or pressure rates this week.

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: