Brought to you by
,

Forecast for the week of May 23, 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 improved slightly

Average mortgage rates ended the week last week just slightly better, although rates did creep a bit higher Tuesday and Wednesday before improving. Rates have stabilized in May, after moving steadily higher the previous few months.

This Week's Mortgage Rate Forecast:

Rates should remain near current levels

Mortgage rates are settling back to a more normal pattern of moving up or down a bit day to day depending on what is going on in the markets, but not creeping higher and higher as we have seen through most of 2022. That means there is less concern that waiting will automatically result in a higher interest rate. Home prices are still appreciating, despite the higher rates, and there remains no sign of a housing bubble. Rates are not likely to go down too much from here.

What's affecting rates this week:

• Economic data: This week there is a lot of economic data, but it is Friday's inflation data that could make the biggest waves in rates.
• Fed meeting minutes: The minutes from last month's Fed meeting come out on Wednesday, and any surprises could affect mortgage rates this week.
• Memorial Day: The bond market will close early Friday and be closed Monday, and most investors will take a long weekend.

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: