Greg McBrideCFA, Senior financial analyst, Bankrate.com
There is a lot of economic data on tap over the next week, so expect at least one soft spot that pulls rates back down.
Holden LewisSenior reporter, Bankrate.com
Mortgage rates spiked higher this week, and they'll drop down to where they were.
Michael BeckerMortgage banker, Happy Mortgage, Lutherville, Md.
Since the employment report last Friday, yields on Treasuries and mortgage-backed securities have jumped quite a bit, causing mortgage rates to rise. I think this move upward in rates is a bit premature, especially considering the fact that the Fed just announced it will purchase approximately $105 billion in Treasuries in the next month. The majority of those purchase will be rate-influential, five- to 10-year Treasuries. Because of this, I see mortgage rates dropping in the coming week.
Jim SahngerMortgage consultant, Palm Beach Financial Network, Stuart, Fla.
What a difference a week can make in interest rates. Over the course of five business days, the lowest available rate with no points on one day could have cost nearly two points on another.
Volatility remains the norm; and while I expect we will see improvement from the highest rates seen this week, the road to where we end up will be bumpy. The lesson learned this past week is simple: When you have a great rate available to you, lock it.