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Forecast for the week of June 8, 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 rose slightly

Average mortgage rates among lenders worsened last week, with the most damage coming on Friday as jobs data came in much stronger than expected, pointing to a stronger economic recovery.

This Week's Mortgage Rate Forecast

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

Mortgage rates are likely to improve this week, rebounding from last week's poor showing, as long as mortgage bonds aren't adversely affected by this week's Fed meeting statement and press conference. We aren't likely to see all of the losses gained back at once though, it will likely take some time. Still, mortgage rates remain near record lows making it a great time to discuss refinancing or to consider buying a home.

What's affecting rates this week:

• The Technicals: Mortgage rates are based on bond market performance, and bonds are due for a rebound after a rough showing last week, which could help rates improve again.
• The Fed: The Fed continues to buy Treasuries and mortgage bonds, helping to keep rates stable and low. The Fed will release their policy statement on Wednesday with a press conference to follow, and depending on what they say it could help or hurt rates this week.
• Economic Reopening: More states reopening, improving the economic outlook.

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) 777-9999 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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