mortgage

Mortgage Rate Trend Index

 

Will rates go up, down or remain unchanged?

Michael BeckerMichael Becker
Mortgage banker, Happy Mortgage, Lutherville, Md.
The start of earnings season has provided a bounce to equities and the stock market. Treasury bonds have sold off resulting in higher yields and slightly higher mortgage rates. I think any optimism created by the second quarter earnings season will be tempered by weak or soft economic reports. Therefore, I see mortgage rates holding steady over the coming week.
Derek EgebergDerek Egeberg
Certified Mortgage Planning Specialist and branch manager, Academy Mortgage, Yuma, Ariz.
If you watch bonds trade on a daily basis, this has been one of the more nerve-wracking weeks to forecast the markets movement forward.
We've seen continued pressure from various sources. Again, see this as the glass is half full and realize rates under 5 percent will not last forever.
David KuiperDavid Kuiper
Mortgage planner, First Place Bank, Holland, Mich.
Mortgage interest rates continue to remain at all-time record low levels. Any good news that's being released (bad for rates) is being countered by negative news (good for rates), so rates should continue to hold at current levels for the near term.
Mitch OhlbaumMitch Ohlbaum
Loan officer, Bank of America, Los Angeles
While the 10-year Treasury bounced slightly above the 3 percent critical mark, rates are holding steady. There is much news that will keep rates low through the end of the year.
The comments from the last Federal Reserve meeting were released Wednesday. The Fed acknowledged the second half of 2010 likely will see slower growth than the first six months. That leaves the Fed wondering whether it should wait and see or look into its bag of tricks. Chairman Ben Bernanke will likely take the wait-and-see attitude.
On the good side, we have the Big Three (JPMorgan Chase, Bank of America and Citi) posting earnings on Thursday. Everyone thinks that while it won't be a blockbuster, it will be some decent news and positive outlook.
Jim SahngerJim Sahnger
Mortgage consultant, Palm Beach Financial Network, Stuart, Fla.
If I was commenting on the weather here, I would say fair to partly cloudy with occasional showers, but a great week to get a tan and head to the beach.
Overall, rates will remain great. But some days will offer a little better pricing than others. Just as you wouldn't cancel a vacation because you see some clouds on the horizon, don't wait if you could benefit from a low rate.
Chris SipeChris Sipe
Senior loan officer, Embrace Home Loans, Frederick, Md.
Rates have remained in a well-defined "channel" for the past two weeks, which has kept rates relatively unchanged. I expect this to continue in the near term.
 
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