mortgage

Mortgage Rate Trend Index

 
 

Will rates go up, down or remain unchanged?

Greg McBrideGreg McBride
CFA, Senior financial analyst, Bankrate.com
Aside from a brief honeymoon, the Federal Reserve's action will do more to keep rates low than it will to bring rates lower. Don't wait too long to lock.
Holden LewisHolden Lewis
Senior reporter, Bankrate.com
I know a lot of mortgage bankers, and not one of them votes Democratic. Their electoral euphoria will last for days, and borrowers will be the beneficiaries.
Kevin BreelandKevin Breeland
General manager, Residential Mortgage of South Carolina, Mount Pleasant, S.C.
After the election results, Republicans will be high-fiving themselves in the hallways. Once that wears off, what we have is a deadlocked Congress and what is shaping up to be two years of a lame duck presidency. That is not to say President Barack Obama won't be re-elected -- I am just saying the issues are so difficult that progress may be hard to see. For this week, rates will likely go lower. But this has all the makings for the bouncing off the bottom. Lock 'em if you got 'em.
Dan GreenDan Green
Waterstone Mortgage, author of TheMortgageReports.com, Cincinnati
It'll be a wild week, with rates finishing lower overall.
Dick LepreDick Lepre
Senior loan officer, RPM Mortgage, San Francisco
The Federal Reserve is going to do more Treasury buying, and that will lower Treasury yields and mortgage rates in the short term. In the long run, this is likely to cause an increase in inflation and problems resulting from as-yet-unidentified asset bubbles, which almost always are a consequence of expanding the money supply. The Federal Reserve is in a tough spot -- damned if they do, damned if they don't.
Mitch OhlbaumMitch Ohlbaum
Vice president of business development, Mortgage Capital Associates, Los Angeles
While the Federal Reserve has agreed to go ahead and purchase Treasuries in the open market, there is no guarantee it will have the desired effect. The effect it will have will be lower Treasury rates and borrowing costs for consumers and businesses.
Only time will tell if this actually causes businesses and consumers to spend. What may actually help more is the lower dollar, which allows the U.S. to export more. Either way, consumers get lower rates for a while.
Jeff TuffordJeff Tufford
Mortgage consultant, Monarch Consulting, Grand Blanc, Mich.
I believe the Federal Reserve's new bond-purchasing program announced Wednesday will cause rates to be lower for the immediate future. Other economic factors will continue to pressure rates slightly higher in the long term, however.
 
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