Weekly Mortgage Rate Forecast

Weekly Mortgage Rate Forecast for the week of March 25, 2024

Forecast for the week of March 25, 2024

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 in securing low rates and payments.

Last Week’s Mortgage Rate Recap:
Rates improved

Rates actually improved last week when the Fed continued to project three rate cuts for 2024 and more to come in 2025. The Fed also signaled that it wasn’t yet concerned with the recent uptick in inflation and still felt that it would have no need to raise rates further in this tightening cycle, and left its policy rate unchanged.

This Week’s Mortgage Rate Forecast:
Rates may improve

This week is a holiday shortened week that is unlikely to see rates make any significant moves, but we could see slight improvement. The latest trend is that rates may slowly improve ahead of April’s labor and inflation data, as markets start to see a June Fed rate cut as more likely after the latest Fed meeting.

What’s affecting rates this week:

  • Economic data: Although there are some mid tier economic reports that will come out this week, the PCE inflation data comes out on Friday when markets will be closed for Good Friday and we are not likely to see a reaction to that data until Monday. It is unlikely rates move much on this week’s data.
  • Holiday weekend: Markets close early on Thursday and will be closed on Friday, meaning that most lenders will not change rates after Thursday until next week.

If you have questions, would like to discuss interest rates further, or find out the benefits of locking your rate today, we’d love to help! Please contact us HERE.