This Week's Mortgage Rate Forecast:
Rates will remain low
Average mortgage rates are likely to remain low this week, as markets wait to see what the Fed will
do at next week's Fed meeting. Rates are not likely to improve much from here, although we may
see some small improvements in rebate pricing - the credit you get towards closing costs from your
lender or the fee you pay to get a lower rate, often called 'points'. Be sure to consult your mortgage
professional this week about the benefits of locking or floating.
What's affecting rates this week:
* Economic data: Inflation data on Tuesday could put a bit of pressure on mortgage rates, as could
some retail sales data on Thursday.
* Fed stimulus: The Fed continues to buy Treasuries and mortgage bonds, helping keep mortgage
rates low for now.
* Fed tapering: Rates may creep higher if markets speculate that the Fed may begin reducing
Treasury and mortgage bond purchases at this month's Fed meeting, which will be held next 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 (678) 616-8860 or Steve@TiscioneLoans.com.