Barry HabibCEO, Mortgage Market Guide, Holmdel, N.J.
Lower rates off soft jobs number and possible Fed stimulus.
Mitch OhlbaumVice president of business development, Mortgage Capital Associates, Los Angeles
The 10-year Treasury is again trading below the 3 percent mark at 2.94 percent. While Treasuries have declined, mortgage rates have not yet followed. The longer we stay down below 3 percent, the sooner we will see lower rates on mortgages. We are also seeing downward pressure as the Federal Reserve worries about deflation more than inflation. (We want inflation.) Will the Fed make a move next week? Consumer spending and confidence are both down, creating more worries about the possibility of a recovery.