Michael BeckerMortgage banker, Happy Mortgage, Lutherville, Md.
A weak economy and fears of deflation still rule the day.
Kevin BreelandGeneral manager, Residential Mortgage of South Carolina, Mount Pleasant, S.C.
I believe there is still a flight to quality. Therefore, until this trend changes I say rates will remain unchanged.
Cameron FindlayChief economist, LendingTree.com, Charlotte, N.C.
Mortgage rates are not declining at anywhere near the pace of decline in the debt market. We could see a 2 percent 10-year Treasury -- it's around 2.48 percent right now -- and I would expect very little change in mortgage rates to borrowers as spreads have started to widen and origination pipelines are flooded with applications. So, despite a potential fall in rates, the pace of that decline will not benefit borrowers much.
Jeff LazersonPresident, Mortgage Grader, Laguna Niguel, Calif.
Even though mortgage-backed securities prices are more attractive to lenders, they don't seem to be dropping their prices to consumers for mortgages. Rates are very low anyway. Lenders' lines are very long. One of the large banks is taking 90 days to fund refinances right now.
The key for America today is about confidence. We need to have confidence in the overall economy. Banks need to lend and politicians need to start protecting the consumer's interest. Only then will housing stabilize.
Steven LevittVice president of mortgage lending, Guaranteed Rate, Chicago
With the world economy still in question regarding a recovery and unemployment/home sales/consumer sentiment still not improving, rates will remain unchanged at historic lows.
Jim SahngerMortgage consultant, Palm Beach Financial Network, Stuart, Fla.
Economic numbers continue to disappoint, keeping a lid on rates. I read today that the effective rate of all U.S. mortgage debt is still around 6 percent. With no-closing-cost loans running in the 4s, it makes you have to stop and wonder why.
If you want to refinance, get busy folks! Fewer home sales may make finding comps a little more problematic for your appraiser. But, if you have a loan with no private mortgage insurance and think you may require it now based on your home's value, check again. This may not be the case.