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Forecast for the week of November 25, 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

After moving higher over the last few weeks, mortgage rates held steady last week. Rates began the week slightly higher but ended virtually unchanged as markets adjusted to a new economic outlook.

This Week's Mortgage Rate Forecast:

Rates should improve, but only slightly

Rates showed signs of stabilizing last week and may see a modest improvement this week, especially with the Thanksgiving holiday approaching. However, significant declines are unlikely, and volatility could return next week with the release of labor market reports.

What's affecting rates this week:

• Politics: President-elect Trump picked hedge fund manager Scott Bessent as his Treasury secretary late on Friday. Bond markets reacted positively to the news, viewing Bessent as a moderating influence likely to bring a Wall Street perspective to policies like tax cuts and tariff changes. This optimism has supported a slight improvement in mortgage rates.
• Inflation: The Fed's preferred inflation gauge, the Personal Consumption Expenditures (PCE) report, is due on Wednesday. This is likely the last key economic data traders will act on before the Thanksgiving holiday and could help mortgage rates improve.
  

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:

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.