Mortgage rates forecast

Fannie Mae increased its mortgage origination forecast as lower interest rates, driven by economic uncertainty, will lead to more refinance activity, but other factors will continue to hold back home purchases.

While mortgage rates remained unchanged this past week, further drops are possible as signs from the Federal Reserve point to a short-term rate cut at its next meeting.

While mortgage rate optimism kept consumer confidence about the home purchase market high in June, affordability worries pulled overall sentiment lower, a Fannie Mae survey said.

Mortgage rates ticked up slightly this week with opposing trends in the stock and bond markets fighting for dominance, according to Freddie Mac.

Average mortgage rates dropped for the seventh time in the last nine weeks following news from the Federal Reserve of a possible near-term rate cut, according to Freddie Mac. The 30-year fixed-rate mortgage fell to its lowest level since November 2016.

Mortgage rates remained stable as the 30-year fixed-rate loan settled in near 3.8% for the third straight week, according to Freddie Mac

With mortgage rates expected to continue their recent slides over the next 18 months, in tandem with slowed economic growth, loan originations should see a jump through 2020, according to Fannie Mae.

Mortgage rates remained unchanged as investors' concerns over U.S. foreign trade policy, which triggered the previous week's drop, were moderated, according to Freddie Mac.

Mortgage rates fell to their lowest level since September 2017, with the 30-year down 17 basis points as worries over foreign trade policy continued to roil the markets, according to Freddie Mac.

As the bond market drives yields down because of the economic turmoil, mortgage rates moved in concert, dropping below 4% for the first time since January 2018, according to Freddie Mac.