Mortgage Rate Trend Index
Will rates go up, down or remain unchanged?
Greg McBride, CFASenior financial analyst, Bankrate.com
Mortgage rates to remain low amid a run of disappointing economic data.
Kevin BreelandGeneral manager, Residential Mortgage of South Carolina, Mount Pleasant, S.C.
Over the past month when I have said rates will go up, they have done the opposite. It is difficult to see into the crystal ball for direction on rate. My experience tells me if you stick to the basics, eventually that serves you well in the long run. James Bullard, President-CEO of the Federal Reserve Bank of St. Louis, stated today the Fed could start tightening in the second half of the year. That by itself won't cause the markets to move based on one person's opinion, but keep this in mind: There have been inflation concerns for most of the first and, so far the second, quarter. Unrest in the Middle East, increasing difficult debt issues in Europe, and increasing cost to produce goods and services will drive the inflation issue. I don't expect rates to change over the next seven days, but lock 'em if you got 'em. This is not going to last much longer.
David KuiperMortgage planner, First Place Bank, Holland, Mich.
Can you say "stuck in a rut?" Mortgage bonds continue to trade in a very narrow range, unable to continue the nice run-up we saw in previous weeks (leading to lower mortgage rates). A weak domestic economy and continued overseas financial woes are helping rates stay low for the time being, and unless some very positive or very negative news is released, we'll see things stay right about where they are. We remain at the best levels of 2011, making it an ideal time to consider buying, building or refinancing (yes, there are still a lot of people who have not taken advantage of refinancing or restructuring their mortgage). See your local mortgage professional today to see how you can take advantage of this situation for yourself.
Dick LepreSenior loan officer, RPM Mortgage, San Francisco
The daily tech has turned bearish (lower prices, higher yields), but has seen little movement in price. This may be a strong signal that the next bullish weekly cycle will see the 10-year yield test 3 percent. This contradicts the commonsense notion that Treasury yields will increase when "QE2" ends, but the fact is that Treasury buyers are concerned about the recovery -- or lack thereof.
Bob MoultonPresident, Americana Mortgage Group, Manhasset, N.Y.
Rates are flat.
Brian PeartPresident, Nexus Financial, Atlanta
(Rates will stay the) same.
Jim SahngerMortgage consultant, Palm Beach Financial Network, Stuart, Fla.
Rates continue to bounce around on a daily basis, but look for rates to stay in the same range.
Jeff TuffordMortgage consultant, Monarch Consulting, Grand Blanc, Mich.
(Rates will) stay the same.
Bob WaltersChief economist, Quicken Loans/Rock Financial, Livonia, Mich.
(Rates will remain the) same.