Brought to you by
,

Forecast for the week of August 7, 2023

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.

It is never our intention to send you spam.

If you don't want to receive future emails like this one, please
CLICK HERE TO UNSUBSCRIBE

Last Week's Mortgage Rate Recap:

Rates slightly worse

Mortgage rates once again saw a lot of volatility, this time moving steadily higher through the week before improving Friday on weaker than expected jobs data.

This Week's Mortgage Rate Forecast:

Rates could improve

This week brings new inflation data, as well as a slew of Treasury auctions that could cause some volatility for mortgage rates. However, the current outlook is that the data will be good for rates.

What's affecting rates this week:

• Inflation data: Consumer inflation data comes out Thursday, with wholesale inflation data coming out on Friday. If the data shows that inflation is moving lower, mortgage rates could improve on the news. However, if the data shows inflation is heating back up we could see mortgage rates move higher, although that is much less likely.
• Treasury auctions: Mortgage rates are influenced by the price of Treasuries, and a large issuance of new debt this week could push yields higher, which would also mean slightly higher mortgage rates could follow.
• The Fed: Mortgage rates currently reflect the belief that the Fed is done raising rates, but if strong economic data causes markets to anticipate another potential hike we could see mortgage rates move higher.
  

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 .

Interest Rate Forecast and Commentary provided by: