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Forecast for the week of September 8, 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 basically unchanged

Average mortgage rates among lenders improved early in the week before ending the week basically unchanged ahead of the Labor Day holiday.

This Week's Mortgage Rate Forecast

Rates will remain low

Average mortgage rates will remain low this week, but could fluctuate slightly day-to-day in the holiday shortened week. There's not much in economic data or market influencing news to provide a clear direction for rates this week, so it is a good idea to stay in touch with your local mortgage professional if you're close to locking in a mortgage rate.

What's affecting rates this week:

• Economic data: Not much data early in the week, but wholesale and consumer inflation data comes out Thursday and Friday, and could have a small effect on rates.
• Economic stimulus: The Fed continues to buy Treasuries and mortgage bonds, helping to keep rates stable and low. - Stock markets: Stocks look poised to pull back this week, which could help bonds and help support low mortgage rates.
• FHFA Fee: A government fee from the Federal Housing Finance Agency imposed on refinances, recently delayed from being implemented but could affect refinance rates being locked in. Discuss this one 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 roger@hmrsol.com.

Interest Rate Forecast and Commentary provided by:

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