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Forecast for the week of September 23, 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 were basically unchanged

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Although many consumers mistakenly thought that a half-point rate cut by the Fed to its policy rate meant that mortgage rates would fall, they didn't. In fact we saw some volatility through the week as rates got slightly worse before improving to end the week basically unchanged.

This Week's Mortgage Rate Forecast:

Rates likely to hold

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Mortgage rates are not likely to make any big moves higher or lower this week. Markets continue to digest Fed comments about pending policy rate cuts, but there is little economic data to influence rates this week. The overall outlook is that rates will improve slowly over time, and that we shouldn't expect rates to make any big moves significantly lower anytime soon.

What's affecting rates this week:

  • Inflation data: The Fed's favored gauge of inflation, the Personal Consumption Expenditures (PCE) index, will come out on Friday. It is not likely that inflation falls enough to push mortgage rates much lower, but we could see at least a little bit of improvement if the report shows inflation continues to fall.
  • Fed speakers: Fed members are out this week sharing their insight into the economy, labor market, and future Fed policy rate cuts.

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:

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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.

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Hammer Solutions, LLC 260 Leaping Cat Ln Waynesville, North Carolina 28785 United States (828) 565-7300

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