Source: Nerd Wallet —
September mortgage rates forecast
Interest rates on fixed-rate mortgages are likely to remain fairly stable in the first three weeks of September. The forecast gets murkier at the end of the month.
That’s because the Federal Reserve will update its interest rate policy Sept. 21. Rates often stabilize in the two or three weeks prior to Fed meetings. If that pattern holds in September, the rate on the 30-year mortgage will hang out in a range between about 5.75% and 6% until the Fed announcement.
The aftermath of the announcement could be another matter, with up-and-down swings in mortgage rates. But borrowers should brace themselves: Mortgage rates could ratchet upward, like someone climbing a ladder two rungs up and one rung down. Such a path would be consistent with this year’s upward trend for mortgage rates.
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