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Forecast for the week of November 29, 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 were erratic but basically ended unchanged

Average mortgage rates last week were generally worse heading into Thanksgiving, but on Friday started to see improvement after markets were shaken up by the announcement of a new covid variant and the reactions amongst different countries.

This Week's Mortgage Rate Forecast:

Rates could be volatile

It's tough to forecast how this week will play out for mortgage rates, as it will depend on how markets continue to react to this new covid issue. If concerns increase that this new variant could cause the global economic recovery to slow down, we could see that help mortgage rates hold steady or even improve a bit more. If instead this new variant is proven to be more benign and countries remove the travel restrictions recently set in place, it could pressure rates a bit.

What's affecting rates this week:

• Economic data: Most economic data this week won't affect rates, however Friday we will see jobs data that could have an effect.
• Omicron: Rates will be affected this week as we find out more about the newest covid variant and its affect on the global economy.
• The Fed: Speculation of how the Fed will react to the recent events could play a small role in 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: