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Mortgage Rates Fairly Steady, But Volatility Could Increase

Posted To: Mortgage Rate Watch

After a sharp increase to start the year and significant improvements between April and mid July, mortgage rates have been fairly flat for more than a month. That’s definitely not a bad thing considering how close they are to all-time lows with best-case 30yr fixed scenarios still under 3.0%. Change is coming though, for better or worse. Rates could actually move lower, but not for reasons that we’d like to see. Any significant move lower in rate would require a deterioration of “the outlook”–a term that’s intentionally ambiguous here as it encompasses the outlooks for covid, the economy, and Fed policy. It will take time to get a clearer read on the covid outlook given the inception of a new school year. It will therefore also take time to understand how economic momentum is affected by the…(read more)

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