Mortgage and refinance rates today, July 9, and rate forecast for next week
Mortgage and refinance rates today, July 9, and rate forecast for next week
Abstract
Loyal readers may remember I've been predicting for months just such a situation: mortgage rates continuing to rise but much more slowly than during the first five months of the year. What's moving current mortgage rates Markets currently have two obsessions: inflation and a possible future recession. I'm not expecting particularly good news on prices, so it will be a good surprise if that arrives and pushes mortgage rates lower. Mortgage interest rates forecast for next week Once again, there's no prediction for what might happen to 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.
