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Forecast for the week of May 11, 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 remained unchanged

Average mortgage rates among lenders were slightly worse midweek before improving to end the week basically unchanged from the week before.

This Week's Mortgage Rate Forecast

Mortgage Rate Forecast: Rates likely to remain low

Mortgage rates are likely to stay low, but may see small movements up or down through the week with a good chance of ending the week at least slightly better. For some borrowers rates will remain the same but they may see slightly higher or lower closing costs or points.

What's affecting rates this week:

• Economic data: Although there are reports on consumer and wholesale inflation, as well as retail sales that would normally influence rates, it's not likely we see any affect this week because of the weak economy due to businesses being shut down and stay at home orders.
• The Fed: Quantitative easing continues, and although the Fed is continuing to taper off mortgage bond and Treasury purchasing it is still helping to keep rates stable and low.
• Economy reopening: Investors are watching closely to see how local economies are recovering as states begin easing restrictions and allowing businesses to reopen.

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 or jayhemmer@gmail.com.

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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