Brought to you by
,

Forecast for the week of October 10, 2022

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.

It is never our intention to send you spam.

If you don't want to receive future emails like this one, please
CLICK HERE TO UNSUBSCRIBE

Last Week's Mortgage Rate Recap:

Rates still rising

Average mortgage rates ended the week higher, despite starting the week off improving slightly. Fed speakers last week reinforced the message that the Fed would continue to raise rates and hold them higher through 2023, and Friday's jobs data showed a strong labor market that is contributing to a resilient economy, all contributing to higher mortgage rates.

This Week's Mortgage Rate Forecast:

Rates likely to move higher

Mortgage rates are likely to move higher this week, reacting to consumer and wholesale inflation data coming out midweek, as well as being pushed higher by moves in the bond market. Mortgage rates are heavily influenced by the pricing of mortgage backed securities, which are likely to continue to lose ground this week pushing rates higher. We aren't likely to see rates move lower unless we get a surprisingly weak inflation reading this week, and even then it would be a long shot.

What's affecting rates this week:

• Economic data: This week boasts a full economic calendar, and reports that show the economy is not weakening will likely contribute to higher rates.
• The Fed: Minutes from last month's meeting will be released Wednesday, and depending on a reaction could affect mortgage rates this week.
  

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: