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Forecast for the week of July 25, 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 better

Average mortgage rates continued to improve last week, although we didn't really see rates drop much as more of the gains came in the way of improvements to closing costs instead.

This Week's Mortgage Rate Forecast:

Rates could be volatile

Two big events this week could see rates bounce around a bit - the Fed meeting on Wednesday and inflation data on Friday. The bigger picture is still that rates will slowly improve as inflation concerns ease and are replaced by concerns about a recession. We could see rates vary day-to-day this week more than usual, and whether we end the week better or not could depend on Friday's inflation data.

What's affecting rates this week:

• Fed meeting: The Fed will release their rate increase (currently expected to be .75%) and policy statement on Wednesday. Remember, a Fed rate hike is NOT a direct hike to mortgage rates. Instead, mortgage rates usually get at least slightly better after a Fed rate hike.
• Fed press conference: Held after the meeting, Fed Chair Powell's press conference usually causes some movement to rates.
• Economic data: Although this is a full weak of economic and housing data, it is Friday's inflation data that is most 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 or .

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