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Forecast for the week of November 30, 2020

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 when securing low rates and payments.

Last Week's Mortgage Rate Recap

Rates remained low but unchanged

Average mortgage rates last week remained largely unchanged as markets and lenders closed for Thanksgiving.

This Week's Mortgage Rate Forecast

Rates likely to improve

Average mortgage rates this week are likely to improve at least slightly from last week, but could still vary day-to-day. Most improvements will come in the form of better rebate pricing, the credit a lender gives you towards your closing costs or the cost to obtain a lower rate, usually referred to as 'points'.

What's affecting rates this week:

• Covid-19: An increase in covid cases and hospitalizations has some areas of the country going back to lockdowns or implementing business curfews. The effect will be bad for the economic recovery, helping to keep rates low for the near term. - Economic stimulus: The Fed continues to buy Treasuries and mortgage bonds, helping to keep rates low and stimulating the economic recovery. - Economic data: There isn't a lot of data this week, but Friday's jobs data could impact rates and pricing. - Weak economy: Increased unemployment and reduced consumer spending, especially in the holiday season, are likely to weaken the economy and see rates benefit.

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) 777-6666 or roger@hmrsol.com.

Interest Rate Forecast and Commentary provided by:

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