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Forecast for the week of November 8, 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 slightly better

Average mortgage rates ended last week slightly better, with most of the gains coming on Friday. Wednesday saw some volatility after the Fed meeting and press conference, as we expected, but Friday's improvement to rates despite strong jobs data was a surprise.

This Week's Mortgage Rate Forecast:

Rates could be volatile

Average mortgage rates are not likely to improve much, but should remain low this week. Wednesday could see rates move depending on the inflation data that comes in, and the bond market (and most lenders) will be closed on Thursday to observe Veterans Day.

What's affecting rates this week:

• Economic data: Consumer and wholesale inflation data comes out the middle of this week, and along with a couple of Treasury auctions could case rates to move slightly from day to day.
• Fed stimulus: The Fed continues to buy Treasuries and mortgage bonds, helping keep mortgage rates low. Markets are now prepared for the Fed to begin reducing bond purchases in November, and to continue reducing them into 2022.
• Veterans Day: Bond markets will be closed on Thursday, and most lenders won't issue new rates that day. You can check with your mortgage professional to find out if they will.

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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