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Forecast for the week of December 14, 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 slightly improved

Average mortgage rates last week remained low, and in some situations were slightly better than the previous week.

This Week's Mortgage Rate Forecast

Rates likely to remain low

Average mortgage rates will remain low this week, but could fluctuate a bit day-to-day depending on headlines about the covid relief plan and concerns about the economy stalling amid lockdowns. We also have a Fed meeting that concludes on Wednesday that could play a role in rates and pricing this week. We aren't likely to see large changes to rates either up or down this week.

What's affecting rates this week:

• Economic stimulus: The Fed continues to buy Treasuries and mortgage bonds, helping to keep rates low and generally stable.
• Fed Meeting: The Fed will release a policy statement on Wednesday that could affect pricing for the day.
• Economic relief talks: A deal is expected to get done this week as part of a larger spending bill. Markets have already priced in a deal worth nearly $1 trillion, but we could see further reaction.
• Lender capacity: Lenders continue to struggle with volume constraints, making it unlikely they would push rates significantly lower this week, although small improvements are possible.

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.

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