The Week in Review:
A weaker than expected Jobs Report pushed home mortgage interest rates slightly lower last week. The week was marked by wide swings in both directions.
What to Expect:
Overall, mortgage rates are going to start rising based on where we are in the economic cycle. Of course, we’ll see plenty of ups and downs along the way.
This week expect volatility. The Fed meets this week and could announce further stimulus plans mid-day Thursday. The markets will be on needles all week awaiting the announcement.
Basically, all of the important economic reports are scheduled to be announced Thursday and Friday as well. It should be a very interesting end of the week.
My advice, lock in loans.
For transactions closing in:
Next 15 Days: Lock
Next 30 + Days: The market could fluctuate either way. Locking is the prudent decision.
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