Greg McBrideCFA, Senior financial analyst, Bankrate.com
Jobs report -- not Egypt and not corporate earnings -- will dictate the path of mortgage rates
over the next week.
Michael BeckerMortgage banker, Happy Mortgage, Lutherville, Md.
Mortgage rates are currently at the high end of the range that they have been in since the beginning of the year. If the nonfarm payroll report due this Friday shows moderate job growth, I expect that range to be broken and rates to rise. I see slightly higher rates in the coming weeks.
Kevin BreelandGeneral manager, Residential Mortgage of South Carolina, Mount Pleasant, S.C.
Improving profits, signs of recovery from the economic downturn, rise in the stock market ... All good signs, correct? Yes. Now comes the next level of concern, the kryptonite of bonds, inflation worries. With recovery comes some inflation, with inflation you will see rising interest rates. The cycle works that way. The turmoil in Egypt, while it can have an effect, seems to have the bond market just shrugging off the news. The Fed has stated inflation will remain low for some extended time. Great ... but what is an extended time? Based on my experience, we have passed the time where rates move lower. I believe they will rise and will continue to rise for some time.
Derek EgebergCertified Mortgage Planning Specialist and branch manager, Academy Mortgage, Yuma, Ariz.
Less-than-stellar employment numbers push markets higher. Be prepared for even higher rates near April 1 as the Federal Reserve implements its new rules.
Mark MadsenMortgage consultant, Raintree Mortgage, Las Vegas
Mortgage rates have dropped so quickly over the past few weeks, mainly due to economic concerns in Europe. However, there is a bias toward a slight increase in rates in the near future as things get sorted out on the stock markets. This would be a good week to lock.
Dick LepreSenior loan officer, RPM Mortgage, San Francisco
The techs are still bearish portending lower prices and higher yields. The Fed's commitment to QE2 has been most interesting. First of all, the Fed is not increasing money supply. What it has done is take the cash that comes in to pay off the mortgage portfolio accumulated in 2009 and the monthly P&Is and put that back into Treasuries. The illusion that the Fed was increasing money supply has sent Treasury and mortgage rates up and inflated equities. Perhaps this was its intent.
Bob MoultonPresident, Americana Mortgage Group, Manhasset, N.Y.
Rates are on the rise.
Jim SahngerMortgage consultant, Palm Beach Financial Network, Stuart, Fla.
While I believe there is some room for rates to improve, I'm feeling more cautious about rates rising short-term following this week's ADP employment report.
John WalshPresident, Total Mortgage Services, Milford, Conn.
I believe rates will increase in the coming week.
Tommy XintarisSenior mortgage consultant, Houston
After three consecutive days of MBS sell-offs, this week's key day will be Friday and the monthly employment data. If it comes in with the expected news of an increase of jobs, we may see another bad day in the MBS markets and a spike in rates. Make sure to stay in sync with your loan officer until Friday to avoid any surprises.