Weekly Rate Forecast Email 07.27.20

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Brought to you by
Roger Rabbit, Mortgage Originator
(888) 777-9999
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Forecast for the week of July 27, 2020

Please enjoy this complimentary mortgage 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 unchanged
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Average mortgage rates among lenders ended the week just slightly better, mostly in the form of lower closing costs or lower points needed to get an improved rate.

This Week's Mortgage Rate Forecast

Rates will remain low, could improve slightly
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As mortgage rates hover at or near record lows, there's not much room to go lower, making it a great time to buy a home or consider refinancing. Rates should remain low this week, with little volatility to worry about.

What's affecting rates this week:

  • The Fed: The Fed continues to buy Treasuries and mortgage bonds, helping to keep rates stable and low. There will be a Fed meeting this week, and the Fed is expected to leave policy rates unchanged. The Fed is not expected to make any announcements regarding the bond buying program, so should have little effect on mortgage rates and pricing this week.
  • Economic data: Economic data this week is expected to show the economic recovery is stalling, helping keep rates low.
  • Application volume: Due to low rates, lenders are at or near capacity in processing and underwriting, and it is possible some lenders could raise rates to slow down volume. Discuss these risks with your mortgage professional.

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:
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Hammer Solutions, LLC 260 Leaping Cat Ln Waynesville, North Carolina 28785 United States (973) 200-6808
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