mortgage

Mortgage Rate Trend Index

 

Will rates go up, down or remain unchanged?

Greg McBrideGreg McBride
CFA, Senior financial analyst, Bankrate.com
Disappointing job growth is fueling fears of a double-dip recession. Since the "glass half-full" is a tepid economic recovery, mortgage rates will stay below 5 percent.
Michael BeckerMichael Becker
Mortgage banker, Happy Mortgage, Lutherville, Md.
Last week, I expected the non-farm payroll report to be a market mover. I was correct about that -- it's just that I expected a strong report to take rates higher. The report was much worse than expected and instead of pushing mortgage rates a bit higher, they came down a good bit on Friday. Since that report, many are questioning the strength of the recovery and the possibility of a double-dip recession. With rates as low as they are, I don't see them dropping much more, but I do think economic concerns keep them from rising.
Barry HabibBarry Habib
CEO, Mortgage Market Guide, Holmdel, N.J.
Steady, after a lousy jobs report.
Chris KarageorgeChris Karageorge
Senior home loan adviser, Universal American Mortgage Company, Wayzata, Minn.
Rates are good. It's never a bad idea to lock if you can get under 5 percent for a 30-year loan. I expect rates to remain under 5 percent for qualified borrowers for at least the near future.
Dick LepreDick Lepre
Mortgage planner, First Place Bank, Holland, Mich.
Last week, I made a bearish call based on the techs. Friday's weak BLS report proved, once again, that unexpected data always overwhelms the techs. While the BLS report is only for one month, it hardly gives the impression that economic recovery is on track. Worse yet, data from Consumer Metrics Institute calls for a 2 percent drop in GDP in the third quarter of 2010. This model has only five years of history and measures, on a daily basis, discretionary consumer spending. The economies of most of the world are in a bit of trouble.
Mitch OhlbaumMitch Ohlbaum
Loan officer, Bank of America, Los Angeles
The 10-year (Treasury) is currently trading at 3.17 percent, which is far below what anyone expected. The unexpected poor jobs numbers brought down rates as well as the stock market, catching everyone by surprise. The European worries are also weighing heavily on the stock market and Treasuries. Inflation also declined to 1.93 percent. Again, it is clear that the economic recovery is going to be a bumpy one and it remains clear that rates are not going to be on the rise anytime this year.
 
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