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Forecast for the week of June 14, 2021

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 improved slightly

Average mortgage rates improved slightly last week, despite data showing hotter than forecast inflation. Normally inflation can put pressure on rates, but investors and economists believe that the current round of inflation is transitory and caused by supply chain shortages and increased demand as the economy continues to recover.

This Week's Mortgage Rate Forecast:

Rates will remain low, could improve

Average mortgage rates this week will remain low, and could even improve if nothing surprising comes from this week's Fed meeting. Although investors were concerned a few weeks ago that the Fed may start talks this month about reducing bond purchases, many economists and investors now believe that talk about tapering will be put off till August or later.

What's affecting rates this week:

• Economic data: This week's economic data is not likely to have much effect on rates.
• Fed stimulus: The Fed continues to buy Treasuries and mortgage bonds, helping keep mortgage rates low. Concerns about the Fed reducing bond purchases have been pushed back.
• Fed meeting: The Fed meeting concludes on Wednesday with a policy statement and Fed Chair Jerome Powell's press conference. We could see a reaction that could effect rates.

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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