Will rates go up, down or remain unchanged?

 
Panel Prediction
Up Down Unchanged
38% 0% 62%
 

Will rates rise or remain relatively unchanged? Experts and Bankrate analysts predict where mortgage rates are headed over the next week.

This week (June 3-9), 62 percent of the panelists predict rates will remain relatively unchanged (plus or minus 2 basis points); 38 percent think rates will rise; and nobody believes rates will fall.

Click on the three tabs above to read the comments and rate predictions of mortgage experts and Bankrate analysts.

Bankrate.com surveys experts in the banking and mortgage fields to see if they believe certificate of deposit and mortgage rates will rise, fall or remain relatively unchanged. For the deposit index, the panel comprises banks, thrifts and credit unions that directly offer FDIC-insured certificates of deposit to the end consumer. For the mortgage index, the panel comprises mortgage bankers, mortgage brokers and other industry experts who provide residential first mortgages to consumers. Results from Bankrate.com’s CD Rate Trend Index will be released monthly. Results from Bankrate.com’s Mortgage Rate Trend Index will be released each Thursday.

 
 

Will rates go up, down or remain unchanged?

Greg McBride

Greg McBride

CFA, senior financial analyst, Bankrate.com
Expectations for job growth are so unrealistically high (500,000 new jobs) that we could see decent May job gains and it still might not lift mortgage rates. Respectable job growth and a slight uptick in mortgage rates is the most likely scenario.
Dan Green

Dan Green

Waterstone Mortgage, author of TheMortgageReports.com, Cincinnati
Stock market gains are bond market losses. Mortgage rates rise.
Dick Lepre

Dick Lepre

Senior loan officer, RPM Mortgage, San Francisco
The short-term (day-to-day) tech is signaling a significant bearish event. This implies a brief spike upward in Treasury yields and mortgage rates.
Jim Sahnger

Jim Sahnger

Mortgage consultant, Palm Beach Financial Network, Stuart, Fla.
Rates are incredibly attractive right now and I believe it will be difficult for rates to hold at these levels long term. Other economic issues like Europe may continue to offer a window for rates to hold on a little longer. But if the decision is to act now or later, act now! No one will have to second-guess locking in a rate at these levels.
Rates often go up like a rocket and fall like a feather. Any hint of economic recovery will bring higher rates, leaving unlocked mortgage applications and regret in its wake. This always happens when it’s unexpected.
 
 

Will rates go up, down or remain unchanged?

None of the mortgage experts predicts mortgage rates will fall in the next week.
 
 

Will rates go up, down or remain unchanged?

Holden Lewis

Holden Lewis

Senior reporter, Bankrate.com
It’s hard to believe that mortgage rates have stayed this low for this long. Even though I’m predicting here that they’ll remain relatively unchanged, I believe now is a good time to lock. Rates will rise; it’s a matter of when, not if.
Michael Becker

Michael Becker

Mortgage banker, Happy Mortgage, Lutherville, Md.
The nonfarm payroll report on Friday could be a market mover if it either exceeds or is worse than the expectation of 500,000 jobs being added. Mortgage rates have risen a bit since last week’s lows, but are still very attractive. If I had a loan in process, I would lock before Friday’s report. Having said that, even if rates spike after Friday’s jobs report, I think all of the uncertainty in the world will put a cap on mortgage rates. I see rates holding steady in the coming week.
Kevin Breeland

Kevin Breeland

General manager, Residential Mortgage of South Carolina, Mount Pleasant, S.C.
Who would have thought that two months after the Federal Reserve left the mortgage-backed securities market, we would be looking at rates lower than the end of March. But we are. With uncertainty in Europe and the Gulf of Mexico oil spill that could contribute to some increase in oil prices, I believe that at least for the next week, the “flight to quality” will continue. So for the next seven days, I see rates unchanged.
David Kuiper

David Kuiper

Mortgage planner, First Place Bank, Holland, Mich.
Rates should continue to remain steady at or near all-time record low rates. A stock market that continues to struggle and troubles in Europe are benefiting bonds in the near term, which keeps mortgage rates low. Even if you have a fairly attractive interest rate now, it is a great time to strategically refinance for a term reduction, often at little or no change to monthly payment, but with dramatic long-term savings. See your local mortgage professional today to find out how you can take advantage of “Christmas in June.”
Jeff Lazerson

Jeff Lazerson

President, Mortgage Grader, Laguna Niguel, Calif.
As a loan officer, I must be careful what I wish for. The first quarter of 2010, all I wanted were lower rates to help to stimulate more business. Now, new business is just overwhelming. If rates go up just a little, I actually may be able to go home to my wife and children before midnight. This is the best challenge I’ve had in a long time — there are not enough hours in the day to help homebuyers and refinancers and spend time with my home team.
Steven Levitt

Steve Levitt

Vice president of mortgage lending, Guaranteed Rate, Chicago
Too much going on with the oil spill, Korea and Mideast to keep investors skittish, which will offset any good news. So, rates will remain relatively unchanged for the next week.
Mitch Ohlbaum

Mitch Ohlbaum

Loan officer, Bank of America, Los Angeles
It looks like we have hit bottom on rates and probably Treasuries. The market is just not willing to offer lower rates (mortgages) even as Treasuries go lower. The banks will continue to increase margins to make up for other losses and a shrinking mortgage market.
Tommy Xintaris

Tommy Xintaris

Senior mortgage consultant, Houston
With the global economic rebound stalling, so will mortgage rates. … at least for now.
 

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