08/02/2021
๐ก ๐๐ผ๐ฟ ๐๐ต๐ฒ ๐๐ฒ๐ฒ๐ธ ๐ผ๐ณ ๐๐๐ด๐๐๐ ๐ฎ, ๐ฎ๐ฌ๐ฎ๐ญ
๐ฅ๐ฒ๐ฐ๐ฎ๐ฝ ๐ผ๐ณ ๐น๐ฎ๐๐ ๐๐ฒ๐ฒ๐ธ: ๐ฅ๐ฎ๐๐ฒ๐ ๐ถ๐บ๐ฝ๐ฟ๐ผ๐๐ฒ๐ฑ ๐
Average mortgage rates improved slightly on the week, after markets responded positively to the Fed's policy statement and to Fed Chair Jerome Powell's press conference afterwards. Investors don't seem too concerned about the timing of the Fed's tapering of bond purchases, which have kept rates low since the start of the pandemic.
๐ ๐ผ๐ฟ๐๐ด๐ฎ๐ด๐ฒ ๐ฅ๐ฎ๐๐ฒ ๐๐ผ๐ฟ๐ฒ๐ฐ๐ฎ๐๐: ๐ฅ๐ฎ๐๐ฒ๐ ๐น๐ถ๐ธ๐ฒ๐น๐ ๐๐ผ ๐ถ๐บ๐ฝ๐ฟ๐ผ๐๐ฒ ๐
Average mortgage rates this week are likely to improve at least a little bit, although we do need to worry about some volatility on Friday when the jobs data is released. Rates will remain low this week though, even if we do see a slight increase at the end of the week. Most day to day movement will likely be a change 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'.
๐๏ธ ๐ช๐ต๐ฎ๐'๐ ๐ฎ๐ณ๐ณ๐ฒ๐ฐ๐๐ถ๐ป๐ด ๐ฟ๐ฎ๐๐ฒ๐ ๐๐ต๐ถ๐ ๐๐ฒ๐ฒ๐ธ:
- Fed stimulus: The Fed continues to buy Treasuries and mortgage bonds, helping keep mortgage rates low. As long as concerns about the Fed reducing bond purchases remain at bay, we should see rates remain low.
- Economic data: Not much on the calendar this week, and the only data that is likely to have an effect on mortgage rates is Friday's jobs data.
