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Forecast for the week of September 27, 2021

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 higher

Average mortgage rates last week moved higher after the Fed announced it would likely begin reducing bond purchases in November. The Fed has been keeping mortgage rates low through the purchase of mortgage bonds, called quantitative easing, and reducing those bond purchases will contribute to rates increasing over time.

This Week's Mortgage Rate Forecast:

Rates could get worse

This is a tough week to forecast where rates are headed, after seeing last week's sudden rate jump. Rates could get slightly worse or slightly better depending on how the underlying mortgage bond market performs, although we're hoping not to see any big jump in rates like we got last week. This is an important time to stay in touch with your mortgage professional about your unique situation.

What's affecting rates this week:

• Economic data: A busy week for economic and housing data, we could see some day-to-day movement caused by a reaction to different reports including inflation data at the end of the week.
• Fed stimulus: The Fed continues to buy Treasuries and mortgage bonds, helping keep mortgage rates low, although it is now expected that the Fed will begin tapering back on bond purchases after their November Fed meeting.

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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