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Forecast for the week of June 6, 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.

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Last Week's Mortgage Rate Recap:

Rates slightly higher

After a couple of weeks of improving, mortgage rates moved higher again last week after the holiday weekend. The move higher confirms concerns that we were likely testing the best rates we have seen in awhile, and that rates might move higher.

This Week's Mortgage Rate Forecast:

Rates could move higher

Average mortgage rates could move higher again this week, ahead of next week's Fed meeting. Oil prices, already near a 3-month high, adding to concerns that inflation isn't ready to move lower yet. Although rates are creeping higher, there is an expectation they will fall back again and we are not yet at risk of seeing rates move significantly higher like we did earlier in the year. Unfortunately though rates will likely move higher before falling back again.

What's affecting rates this week:

• Economic data: A relatively quiet week, only Friday's inflation data is likely to play a role in rates for the week.
• Treasury auctions: This week's Treasury auctions are the first to take place since the Fed has started to reduce its balance sheet, and may play a larger role in rates than usual for the week.
• Fed speakers: Actually not affecting rates this week, speakers are in a blackout period before next week's meeting.

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 .

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