01/04/2021
๐๏ธ ๐๐ผ๐ฟ ๐๐ต๐ฒ ๐๐ฒ๐ฒ๐ธ ๐ผ๐ณ ๐๐ฎ๐ป๐๐ฎ๐ฟ๐ ๐ฐ๐๐ต, ๐ฎ๐ฌ๐ฎ๐ญ
๐ฅ๐ฒ๐ฐ๐ฎ๐ฝ ๐ผ๐ณ ๐น๐ฎ๐๐ ๐๐ฒ๐ฒ๐ธ: ๐ฅ๐ฎ๐๐ฒ๐ ๐ฏ๐ฎ๐๐ถ๐ฐ๐ฎ๐น๐น๐ ๐๐ป๐ฐ๐ต๐ฎ๐ป๐ด๐ฒ๐ฑ ๐
Average mortgage rates remained low but were basically unchanged last week, as both lenders and markets closed early on Thursday and all day Friday for New Years.
๐ ๐ผ๐ฟ๐๐ด๐ฎ๐ด๐ฒ ๐ฅ๐ฎ๐๐ฒ ๐๐ผ๐ฟ๐ฒ๐ฐ๐ฎ๐๐: ๐ฅ๐ฎ๐๐ฒ๐ ๐น๐ถ๐ธ๐ฒ๐น๐ ๐๐ผ ๐ฟ๐ฒ๐บ๐ฎ๐ถ๐ป ๐น๐ผ๐ ๐
Average mortgage rates will likely remain low, but are not likely to go much lower this week as markets return to normal volume levels after the holidays. Although there is not a lot of risk of rates rising in the near term, there is also not a lot in favor of seeing rates improve much from here. You may want to take the advice of your local mortgage professional for locking or floating based on your individual circumstances.
๐ก ๐ช๐ต๐ฎ๐'๐ ๐ฎ๐ณ๐ณ๐ฒ๐ฐ๐๐ถ๐ป๐ด ๐ฟ๐ฎ๐๐ฒ๐ ๐๐ต๐ถ๐ ๐๐ฒ๐ฒ๐ธ:
- Lender capacity: Lenders continue to struggle with volume constraints, making it unlikely they would push rates significantly lower this week, although small movements are possible.
- Economic stimulus: The Fed continues to buy Treasuries and mortgage bonds, helping to keep rates low and generally stable.
- Economic data: A few smaller reports unlikely to have any effect on rates, but Friday's jobs data could cause some movement.