Mortgage Rate Trend Index


Will rates go up, down or remain unchanged?

Michael BeckerMichael Becker
Mortgage banker, Happy Mortgage, Lutherville, Md.
Mortgage rates dipped after the disappointing jobs report last Friday. Moving forward, you have an improving U.S. economy battling it out with the European sovereign debt crisis. I think this will result in rates being range-bound with volatile day-to-day movement in mortgage rates. Overall, I see mortgage rates holding steady in the coming week.
Kevin BreelandKevin Breeland
General manager, Residential Mortgage of South Carolina, Mount Pleasant, S.C.
Reviewing trends that I believe have the most impact on mortgage rates, (I have concluded) these indicators have been somewhat unreliable. That being the case, I have instituted a new indicator supplying further insight to the difficult task of predicting rate movements. The indicators I have long-relied on point toward unchanged rates for the next seven days. My new indicator -- we know it as Ouija Board -- says the same :-) .
Chris KarageorgeChris Karageorge
Senior home loan adviser, Universal American Mortgage Company, Wayzata, Minn.
Positive employment data last week did not cause rates to spike. The market appears to be settling down a bit.
David KuiperDavid Kuiper
Mortgage planner, First Place Bank, Holland, Mich.
Rates continue to trade in a very narrow range, with lots of intraday volatility. The 30-year fixed rate continues to hover plus or minus 5 percent at any given time within 0.125 percent. While the record-low interest rates of last fall are a thing of the past, and not likely to return, rates remain very attractive, especially for those who want to move to a shorter-term loan and realize long-term savings vs. monthly payment savings. Contact your local mortgage professional today to see how you can make today's rates work for you.
Mitch OhlbaumMitch Ohlbaum
Vice president of business development, Mortgage Capital Associates, Los Angeles
The 10-year Treasury is currently at 3.4 percent. Even in the face of not-so-promising news, rates climbed slightly. In fact, December job creation was corrected downward from previous numbers but seemed to have no effect on rates. The reception of bad news in the market and more specifically on rates would normally have an ill effect on rates, but this is not what we are seeing. The market is so hungry and poised for improvement, it almost seems to ignore the bad and focus only on the good. Beyond all of this, the most important factor is: Are people going back to work, and how quickly?
Jeff TuffordJeff Tufford
Mortgage consultant, Monarch Consulting, Grand Blanc, Mich.
With all the market volatility, I expect things to bounce around some but be back to relatively the same place they are now this time next week.
John WalshJohn Walsh
President, Total Mortgage Services, Milford, Conn.
I believe rates will remain steady in the coming week.

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