Weekly Rate Forecast Email 08.24.20

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Brought to you by
Roger Rabbit, Mortgage Originator
(888) 777-9999
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Forecast for the week of August 24, 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 improved slightly
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Average mortgage rates among lenders improved slowly through the week, and ended the week slightly better, rebounding from the previous week's sudden jump in rates.

This Week's Mortgage Rate Forecast

Chances are good that rates can improve
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Average mortgage rates have room to improve this week, further recovering from the unexpected and sudden rate jump we saw a couple of week's ago after the FHFA fee announcement raised rates (for more information on this, please contact your Mortgage Professional). There's a better-than-average likelihood that rates will get better, but caution should still be taken when floating rates.

What's affecting rates this week:

  • Economic data: Nothing Monday, but then a full week of economic and housing data could play a role in mortgage rates this week. Markets will see data on inflation, GDP, and the labor market.
  • Jackson Hole symposium: Fed Chair Jerome Powell will be speaking at the 2-day event on Thursday, and investors will be listening. Could cause some fluctuation in rates for the morning.
  • Market technicals: The 10yr Treasury and mortgage bonds are signaling that we could see rates improve more this week, despite stocks rallying on news of potential COVID-19 treatments.

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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