Mortgage and refinance rates today, May 28, and rate forecast for next week

Abstract

I'm still not comfortable predicting where mortgage rates will move next week. What's moving current mortgage rates Last week, I quoted from The Wall Street Journal on stock market indexes last Friday. The two main drivers of higher rates this year have been hot inflation and fear that the Fed's rate hikes could lead to a recession or even "Stagflation". Mortgage interest rates forecast for next week For the second week in a row, I'm ducking making a prediction about mortgage rates next week. How your mortgage interest rate is determined Mortgage and refinance rates are generally determined by prices in a secondary market where mortgage-backed securities are traded. Remember, they're not just a mortgage rate Be sure to count all your forthcoming homeownership costs when you're working out how big a mortgage you can afford. Read: Down payment assistance programs in every state for 2021 Mortgage rate methodology The Mortgage Reports receives rates based on selected criteria from multiple lending partners each day.