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Forecast for the week of September 5, 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.

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Last Week's Mortgage Rate Recap:

Rates moved lower

Mortgage rates moved lower for the first time in a few weeks, as data showed the labor market is still strong but is normalizing and unemployment moved higher.

This Week's Mortgage Rate Forecast:

Rates likely to move higher

This week we could see mortgage rates move off of the best levels seen last week, although we aren't likely to see them move too high too quickly. There is little in the way of economic data this week to set a direction, and rates are likely to move at least slightly day-to-day and could show some volatility during the day. Rates are likely near the lower end of the current range, and it may be a good idea to discuss locking in with your mortgage professional if you are in the process of obtaining a mortgage.

What's affecting rates this week:

• Inflation data: Markets will speculate what next week's CPI consumer inflation data will show, and how it will affect future Fed rate hikes.
• Economic data: There is little in the way of data this week that will affect mortgage rates.
• The Fed: Markets are starting to price in one more Fed rate hike to come in November, which puts pressure on mortgage rates to 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: