Michael BeckerMortgage banker, WCS Funding Group, Lutherville, Md.With a lack of economic reports this week, bond yields and mortgage rates seem to be moving based on the rumors of a debt ceiling resolution. Up one day, down the next. I expect that volatility to continue until a resolution is reached. Overall, I expect interest rates to stay in their current range, despite the day-to-day volatility.
David KuiperMortgage planner, First Place Bank, Holland, Mich.What a week of volatility! Massive swings up and down, but overall not much of a net change in the bond market. Continuing economic challenges, domestic and international, continue to allow for a very favorable interest rate climate. With interest rates remaining near record-low levels, now is an ideal time to take advantage of buying, building or refinancing.
Dick LepreSenior loan officer, RPM Mortgage, San FranciscoIn the short term, I see no significant move up or down in rates. The markets must await the outcomes of the fiscal process and any mention of additional quantitative easing. QE creates inflation -- particularly of food and energy, and that reduces consumer discretionary spending. QE2 may have actually accomplished the precise opposite of its intention and reduced GDP.
We need to wait for the fiscal process and then see how the Fed reacts regarding monetary policy.
Bob MoultonPresident, Americana Mortgage Group, Manhasset, N.Y.Rates are quiet and will remain flat.
Mitch OhlbaumVice president of business development, Mortgage Capital Associates, Los AngelesThe 10-year is currently trading at 2.93 percent and has been trading in a fairly tight range. We are in a very interesting market, and by that I mean, it is not sure which way it wants to go. The market wants to move forward on every bit of good news, but is scared and with good reason. For every bit of good news, there is news in another sector giving the market concern. As always, the recovery is and will be pegged to employment and wages.