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Forecast for the week of September 9, 2024

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 slightly lower last week after jobs data showed the labor market continues to cool, making a Fed rate cut at this month's meeting almost guaranteed.

This Week's Mortgage Rate Forecast:

Rates could improve

Mortgage rates could improve a bit more this week if inflation data shows inflation continuing to move lower, but we shouldn't look for big drops in rates yet. Next week will bring the Fed meeting, and Fed Chair Jerome Powell's press conference, where we will more likely see mortgage rates react.

What's affecting rates this week:

• Inflation data: Wednesday brings consumer inflation data while Thursday brings wholesale inflation data. It is likely that these reports will show that inflation continues to move lower, which is good for mortgage rates.
• The Fed: Although the Fed doesn't meet until next week, markets are currently pricing in the idea that the Fed will start cutting rates with a quarter point rate cut at this meeting. If markets were to anticipate a larger cut, such as a half point cut, we could see mortgage rates move lower in anticipation. However, that doesn't seem likely at this point, with markets instead anticipating bigger cuts later this year.
  

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 .

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All information provided is for informational purposes only, and we assume no responsibility to any person who relies on information contained in this report, and disclaim all liability in respect to decisions or actions or lack thereof based on any or all of the contents of this report. This is not an offer to lend.