Greg McBrideCFA, Senior financial analyst, Bankrate.com
The Federal Reserve is acknowledging the weak economic growth and throwing more money at the problem. This will keep mortgage rates at ultralow levels for several months.
Michael BeckerMortgage banker, Happy Mortgage, Lutherville, Md.
For the last few weeks, I have predicted rates would hold steady at their low levels because of continued economic weakness. I thought they couldn't get much lower despite the current economic malaise. But I was wrong. Each week they have drifted a little lower, and this week it looks like we will set another record low for the 30-year fixed mortgage.
Now the question becomes "How low can mortgage rates go?" My guess is a little lower now that the Federal Reserve has said it will try to combat a slowing economy by reinvesting principal payments on mortgage assets it holds into long-term Treasuries.
Kevin BreelandGeneral manager, Residential Mortgage of South Carolina, Mount Pleasant, S.C.
One thing I have learned in 32 years in the mortgage business is that when you try and predict rates, you have a 50/50 chance of being right -- the science isn't much better. Last week, I said rates would remain unchanged. But after Tuesday's Federal Reserve statement, I think they will inch lower, believe it or not.
Dan GreenWaterstone Mortgage, author of TheMortgageReports.com, Cincinnati
The Federal Reserve set rates back on a downward trajectory.
Barry HabibCEO, Mortgage Market Guide, Holmdel, N.J.
I see rates lower as fears of deflation persist. Fed is on hold -- stocks don't have a reason to march much higher.
Mitch OhlbaumVice president of business development, Mortgage Capital Associates, Los Angeles
The 10-year Treasury was trading at 2.76 percent Wednesday morning, which is well below the critical 3-percent mark. As it is now clear that we are going to remain below 3 percent, you will see lenders finally begin to lower the rates. Not all lenders will follow in unison -- some will continue to make the larger spread for as long as they can.
The Federal Reserve will continue to monitor the market and rates carefully while we are in this tenuous economic position to determine what -- if anything -- it needs or wants to do.