Rates inched up a bit last week. We don't expect a huge swing in rates this week either, but we do expect them to creep up some more. As the economy shows signs of weakening, inflation concerns will likely push rates north. Get your rate locked as soon as possible.
This week is light in terms of the number of economic reports scheduled for release, however, two of the three reports that are scheduled to be posted are considered to be of high importance. With important data being posted only tomorrow and Friday, we should see several days of little movement in mortgage pricing.
Overall, I expect to see the most movement in rates either Tuesday or Friday. Friday is the most important day of the week with the employment numbers being released, but we will likely see a fair amount of movement in rates Tuesday morning also. In between, we should see fairly calm days as long as the stock markets don't stage significant rallies or a sell-off.
Search today's mortgage rates anonymously. And, as always, you can call me at (508) 471-4144 with any questions about mortgage rates and to discuss your best loan options.
East Bridgewater, MA 02333
Lew Corcoran, ASP®, IAHSP, IAHSP-CB