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Forecast for the week of June 22, 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 slightly worse

Average mortgage rates among lenders ended last week slightly worse, but not by much, and rates remain near record low levels.

This Week's Mortgage Rate Forecast

Rates could improve slightly

Mortgage rates could improve slightly this week, recovering some of the losses from last week. If rates do improve it won't be too much, and at these low rates it is usually a bad idea to try and hold out for even lower rates. Instead, take the advice of a mortgage broker or lender you trust when it comes to locking your rate. Even if rates don't improve it is still a great time to take advantage of near record low rates.

What's affecting rates this week:

• The Fed: The Fed continues to buy Treasuries and mortgage bonds, helping to keep rates stable and low.
• Economic data: There is some housing data this week, but that won't affect rates. Even the inflation and GDP data later this week is unlikely to play much of a role for mortgage rates.
• The Technicals: Mortgage bonds showing signals that we could see improvement this week, which could help rates improve slightly.

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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