Greg McBrideCFA, Senior financial analyst, Bankrate.comMortgage rates have broken out of the range in a big way and it will take a little longer before the dust settles.
Michael BeckerMortgage banker, Happy Mortgage, Lutherville, Md.Mortgage rates have jumped in the last week, this despite a weaker-than-expected jobs report. It seems nothing can stop the Bernanke put. The stock market keeps rising as bond prices drop. Lower bond prices means higher yields and higher mortgage rates. I look for this trend to continue with higher mortgage rates in the coming week.
Derek EgebergCertified Mortgage Planning Specialist and branch manager, Academy Mortgage, Yuma, Ariz.Too many negative factors are pushing rates higher. The talk of inflation concerns, the increased loan costs from Fannie Mae and Freddie Mac as well as overseas tensions. These major items are reflected in the softer demand for mortgage bonds.
Dan GreenWaterstone Mortgage, author of TheMortgageReports.com, CincinnatiThinking market "is due" is not a strategy. It's a prayer. Get locked before rates rise again.
Chris KarageorgeSenior home loan adviser, Universal American Mortgage Company, Wayzata, Minn.Barring major world news and a subsequent stock selloff, there is little resistance to rates continuing to move higher.
Rebecca R. MadejMortgage Consultant, Cunningham & Company Mortgage Bankers, Charlotte, N.C.We've had more than a week of MBS losses, so the momentum points to higher rates.
Bob MoultonPresident, Americana Mortgage Group, Manhasset, N.Y.Rates are on the rise.
Mitch OhlbaumVice president of business development, Mortgage Capital Associates, Los AngelesThe 10-year Treasury is trading at 3.69 percent and the comments from Chairman Bernanke this morning are moving rates yet higher this morning. He expressed more confidence that the U.S. growth engine is on more solid ground. Consumer spending and confidence are both up as are the equity markets. All of this is bad news for bonds and rates. As I have mentioned before, and I am not alone, that if new jobs and wage increases do not follow soon, none of this good news will matter as the consumer exuberance and confidence will fade quickly as will the stock market -- and rates will follow.
John WalshPresident, Total Mortgage Services, Milford, Conn.I believe rates will increase in the coming week.