Polyana da CostaMortgage reporter, Bankrate.com
Bond yields have been somewhat steady as investors wait to see what comes out of the Fed announcement from Wednesday. I don't think anything major will come out of it to have an immediate impact on mortgages rates. But I suspect Bernanke will just continue to act like inflation is under control, and not much will change for now.
Holden LewisAssistant managing editor, Bankrate.com
Mortgage rates seem to vary more from hour to hour than from week to week. Viewed from that perspective, there hasn't been much movement. Banks offer low rates because they would like to lend more (believe it or not), but few people borrow money to buy homes right now.
Greg McBrideCFA, senior financial analyst, Bankrate.com
Unless GDP surprises and doesn't come in as low as expected, mortgage rates will stay in the same neighborhood.
Michael BeckerMortgage banker, Happy Mortgage, Lutherville, Md.
It's hard to get a handle on the direction of mortgage rates lately. Over the last week, the stock market rallied and mortgage rates dropped. Generally speaking, a rising stock market is indicative of an improving economy and is accompanied by rising interest rates. What I think is happening is a battle in the market between those who think rising inflation will result in higher rates versus those that think higher food and energy inflation will be a drain on the economy and result in lower growth and eventually lower rates. Over the next week while I see the potential for a lot of volatility in mortgage rates, I don't see a big rise or fall coming. Mortgage rates are mostly unchanged in the coming week.
Kevin BreelandGeneral manager, Residential Mortgage of South Carolina, Mount Pleasant, S.C.
What rates will do the next seven days is a mystery to me. We have inflation signs everywhere, driving by the cost of oil per barrel. Petroleum products touch our lives, they are used in almost everything we use daily. The price of oil is pushing gas prices, food prices up, travel prices up, pushing everything up. The next seven days, though, seem to be heading toward unchanged. I believe for the next seven days rates will remain unchanged.
David KuiperMortgage planner, First Place Bank, Holland, Mich.
Mortgage interest rates continue to trade in a very narrow range of about 0.25 percent. Intraday volatility remains high, as new data and events are constantly upon us. We should continue to see sub-5 percent mortgage interest rates for the foreseeable future. With pending inflation and economic uncertainty, it remains prudent to lock in at today's very favorable rates. Consult your local mortgage professional to see how you can build, buy or refinance and take advantage of these rates, which remain near all-time lows.
Bob MoultonPresident, Americana Mortgage Group, Manhasset, N.Y.
Rates are flat.
Jim SahngerMortgage consultant, Palm Beach Financial Network, Stuart, Fla.
Rates have improved the last week, and while I expected that we would see rates tick up a bit, that didn't happen. Following the Fed meeting this week, it looks like we might just stand pat for a little while.
That said, volatility continues to remain the norm and locking early in your application is still in your best interests, particularly if you are at the limits in qualifying based on current rates.