Mortgage rates probably will rise in June, and we could see substantial bumps and dips day to day.

June mortgage rates forecast

Mortgage rates might be volatile in June. A graph of them may resemble the cutting side of a handsaw, with sharp daily ups and downs. I predict that the average rate on a 30-year mortgage will be higher in the last week of June than in the last week of May.

I’m not brimming with confidence in this forecast. One source of uncertainty arises in the middle of the month, when the Federal Reserve meets to hash out monetary policy. As of late May, financial markets were expecting the Fed to raise the overnight federal funds rate by half a percentage point on June 15.

 

Larry Mitchell, ABR, CRS, GRI

Texas Realtor®, Broker Associate

Chris Mitchell, Texas Realtor®

ERA Colonial Real Estate, Harker Heights, Texas

LMSells@aol.com

254 681 5115 – Larry

254 291 2832 – Chris