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Forecast for the week of June 15, 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 improved

Average mortgage rates among lenders improved last week as we had forecast. Rates were helped by the Fed's commitment to continue buying bonds at the current pace, a process known as quantitative easing, which is used to keep interest rates low.

This Week's Mortgage Rate Forecast

Rates will remain low but could slip

Mortgage rates could slip a little this week, after averaging all time best levels last week. While rates aren't likely to go up much, we could see smaller lender closing cost credits or higher fees to get the lowest rates. It remains a great time to buy a home or possibly consider a refinance.

What's affecting rates this week:

• The Fed: The Fed continues to buy Treasuries and mortgage bonds, helping to keep rates stable and low. At last week's Fed meeting the Fed committed to maintaining these purchases at current levels, which helped rates improve last week.
• Covid concerns: Stocks have been falling on concerns that a second way of the pandemic is possible and could hurt the economic recovery, which has also helped bonds improve. When bonds improve, rates often do as well.
• Economic data: Although a lot of housing data comes out this week, it isn't likely to affect mortgage 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 (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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