This Week's Mortgage Rates Forecast

This Week's Mortgage Rates Forecast

This Week's Mortgage Rates Forecast
Mortgage Rates Currently Trending: HIGHER
This week begins with a focus on the technicals as we see if the support levels hold up. The Relative Strength Indicator shows that we are poised for a bit of a rebound, but it may not be strong enough to have a significant effect on mortgage rates and it may not come until we see a bit more deterioration. Economic news this week that could move the markets includes FOMC minutes on Wednesday, and the Jackson Hole meeting as Central Bankers and economists from around the world attend. Traders will be focusing on any discussion on the timing of the Fed's tapering of bond purchases and who the next Fed Chair will be. .

BOTTOM LINE: Take advantage of any positive days to make up lost ground on rates, but don't hold off thinking that lower rates are on the horizon (they are not). Be sure to watch the live MBS (Mortgage Backed Securities) market with your Mortgage Loan Originator to stay a step ahead of lender reprices and to cash in on market gains that help mortgage rates.

Kim Guest Headshot
Phone: 864-918-0066
Dated: August 21st 2013
Views: 430
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