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Forecast for the week of September 21, 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 slightly worse

Average mortgage rates among lenders were slightly worse to end the week, especially for refinances as lenders implemented new Fannie Mae and Freddie Mac adverse market refinance fees. Details on this fee can be obtained from your local mortgage professional.

This Week's Mortgage Rate Forecast

Rates will remain low

Average mortgage rates will remain low this week, and could improve slightly from last week's levels. However, improvements are more likely to come in the form of improved rebate pricing, rather than in rates actually going much lower. Rebate pricing is the credit that a lender gives towards closing costs, or the cost to buy down to a better rate, often referred to as points. Be sure to discuss your unique situation with your local mortgage professional.

What's affecting rates this week:

• Economic data: There's no economic data this week that should influence mortgage rates.
• Economic stimulus: The Fed continues to buy Treasuries and mortgage bonds, helping to keep rates stable and low.
• Bond market technical indicators: The foundation for mortgage rates, mortgage bonds, look likely to improve this week which could help mortgage rates and pricing improve.

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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