mortgage

Mortgage Rate Trend Index

 
 

Will rates go up, down or remain unchanged?

Polyana da CostaPolyana da Costa
Mortgage reporter, Bankrate.com
If Friday's jobs report is disappointing, it will help keep mortgage rates low for a few days. Also, Portugal's debt was downgraded this week. To investors, that's another sign that the European debt problem could turn into a global economic disaster.
Chris KarageorgeChris Karageorge
Senior home loan adviser, Universal American Mortgage Company, Wayzata, Minn.
I expect rates to increase over the next week or so, but only slightly. We caught a nice dip due to the European crisis. I expect the U.S. market to begin to correct, but news about European markets should keep rates fairly tame.
Greg McBrideGreg McBride, CFA
Senior financial analyst, Bankrate.com
If job growth disappoints again, mortgage rates will move lower.
Michael BeckerMichael Becker
Mortgage banker, WCS Funding Group, Lutherville, Md.
Last week the stock market rallied and Treasuries sold off, resulting in higher mortgage rates. The biggest reason for the rally in stocks and selloff in bonds was news that the Greek parliament had passed austerity measures that would help "solve" their debt crisis. This week, Moody has downgraded Portugal's debt and Portugal and Ireland's bond yields are spiking. This continuation of the European debt crisis combined with what I expect to be a weak nonfarm payroll report on Friday should help push mortgage rates lower in the coming week.
Dan GreenDan Green
Waterstone Mortgage, author of TheMortgageReports.com, Cincinnati
Greece continues to weigh on MBS. Mortgage rates fall.
Barry HabibBarry Habib
CEO, Mortgage Market Guide, Holmdel, N.J.
Lower rates off weak jobs data and retreat in stocks.
John WalshJohn Walsh
President, Total Mortgage Services, Milford, Conn.
This could be the final week of downward movement for mortgage rates for some time. Weakness in U.S. employment data is likely to keep rates in an attractive neighborhood this week. Yet pain may be on the horizon as the lack of Federal Reserve stimulus and the reality of the U.S. debt crisis take precedence later in the month.
 
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