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Forecast for the week of October 26, 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 worsened through the week, contrary to some headlines that tracked old data and said rates hit a new low. Still, although rates did get slightly higher, it wasn't a big move.

This Week's Mortgage Rate Forecast

Rates could see volatility, but could improve

Average mortgage rates this week could show some volatility, depending on how markets trade heading into the elections next week. Rates could improve a bit though after losing ground last week, but the upside potential is limited. Consumers looking to minimize risk may want to still consider locking and should talk it over with their mortgage professional.

What's affecting rates this week:

• Economic data: The week does have a lot of economic data and activity, which could play a small role in rates moving from day to day.
• Economic stimulus: The Fed continues to buy Treasuries and mortgage bonds, helping to keep rates low and limiting how far rates could rise.
• Stimulus talks: A stimulus deal still not done, now considered extremely unlikely to be done before the election.
• Elections Nov 3rd: Speculation of who will win the presidential election as well as House and Senate seats could cause some volatility 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 (888) 777-9999 or roger@hmrsol.com.

Interest Rate Forecast and Commentary provided by:

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