Polyana da CostaMortgage reporter, Bankrate.com
The market has already absorbed the impact of last week's horrendous jobs report. I think it became pretty clear to investors that the economy has stalled and now, they seem to be in a waiting mode.
Michael BeckerMortgage banker, WCS Funding Group, Lutherville, Md.
I expect rates to be very volatile in the coming week, with concerns over the continuing European debt crisis applying downward pressure on rates, and the uncertainty of the U.S. debt ceiling putting upward pressure on rates. In the end, despite the day-to-day volatility of rates, I think rates remain unchanged in the coming week.
David KuiperMortgage planner, First Place Bank, Holland, Mich.
Wow; what a week it's been! A dismal employment report last Friday sent the bond market into frenzy, and rates improved accordingly (remember, bad news is bond-friendly). In addition, further bad news out of Europe on multiple economies has investors fleeing to the safety of bonds. Mortgage interest rates are once again approaching their low levels of the year, and are close to all-time lows again. With a firm floor of support beneath us now, rates should remain very favorable over the coming week.
Bob MoultonPresident, Americana Mortgage Group, Manhasset, N.Y.
Rates are flat.
Joe NunziataChairman and co-CEO, FBC Mortgage, Orlando, Fla.
We believe mortgage rates will remain relatively steady this coming week, with a small chance to the downside as the U.S. mortgage bond markets are viewed as "safe haven" assets given the crisis going on in Europe.
Mitch OhlbaumVice president of business development, Mortgage Capital Associates, Los Angeles
The 10-year Treasury is currently at 2.91 percent and way down from where we were just a couple of weeks ago. I mentioned that as long as the 10-year stays below the critical 3 percent mark, rates will hold fairly steady. The inflation portion of the rate is 2.38 percent, making the real rate only 0.5 percent, which is the lowest it has been all year. As it has been all year, most of the movement in rates comes from investors switching from equities to bonds and back again based on bits of good or bad economic news. The market will continue on this pattern until we have solid news about the economy and more importantly, job and wage growth.
Jim SahngerMortgage consultant, Palm Beach Financial Network, Stuart, Fla.
Expect rates to remain range-bound.