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Forecast for the week of June 1, 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 low

Average mortgage rates among lenders ended the week basically unchanged, although rates were slightly higher at the beginning of the week after Memorial Day.

This Week's Mortgage Rate Forecast

Mortgage Rate Forecast: Rates likely to remain low with a good shot at slightly improving

Mortgage rates will stay low this week, and could improve slightly if mortgage bonds react favorably to technical conditions. However, if bonds fail to improve, mortgage rates could get slightly worse.

What's affecting rates this week:

• The technicals: Mortgage bond technicals will come into play this week as mortgage bonds will be forced to break above or below the convergence of the 25 and 50-day moving averages. If bonds improve, rates will get slightly better. If bonds meet technical resistance, rates could get slightly worse.
• Economic data: A quiet week for economic data, other than Friday's jobs data, which is not likely to have much of an effect on mortgage rates.
• The Fed: The Fed continues to buy Treasuries and mortgage bonds, helping to keep rates stable and low.
• Trade with China: Tensions with China are escalating, and China has halted some U.S. farm imports that were agreed upon in the phase one trade deal. Trade tensions help keep rates low.

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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