mortgage

Mortgage Rate Trend Index

 
 

Will rates go up, down or remain unchanged?

Holden LewisHolden Lewis
Assistant managing editor, Bankrate.com
It's hard to believe rates could go any lower. But with the economy heading toward another recession, rates might not get much higher for a while.
Kevin BreelandKevin Breeland
General manager, Residential Mortgage of South Carolina, Mount Pleasant, S.C.
I have to admit I can't remember a time in my 33 years where I have had more uncertainty. I am struggling for clear indications. Since the Fed has stated rates are going to remain low until at least mid-2013, my experience does tell me we should see no change in rates for the next seven days.
Derek EgebergDerek Egeberg
Certified Mortgage Planning Specialist and branch manager, Academy Mortgage, Yuma, Ariz.
With the Fed's comments on holding rates steady, we will see not much in the way of change.
David KuiperDavid Kuiper
Mortgage planner, First Place Bank, Holland, Mich.
Interest rates remain at or near their all-time record low levels. Wow! Who would have thought?! A struggling domestic economy and continued economic uncertainty overseas will help keep rates in this low range. That being said, now is NOT the time to be complacent. Every time we've experienced new lows and entered uncharted territory, we know that the market is poised to change drastically and without warning. And of course, we don't want to hope for any more bad news. Consult your local mortgage professional today to see how you can take advantage of this historical opportunity.
Bob MoultonBob Moulton
President, Americana Mortgage Group, Manhasset, N.Y.
Rates should remain flat.
Jim SahngerJim Sahnger
Mortgage consultant, Palm Beach Financial Network, Stuart, Fla.
Rates are great, and what brought us here is the opposite of what many expected. Not long ago, 100 percent of a panel of polled economists anticipated rates were going to be higher than where they are now. Rates did not rise.
Caution should exist for all rate shoppers as it will not take much to spook the market, ending an opportunity we may only see once for rates this great. Lock and move on.
John WalshJohn Walsh
President, Total Mortgage Services, Milford, Conn.
Mortgage rates have reached levels where most Americans can benefit from a refinance. With Congress and the president on vacation and schools across the nation just coming back in session, attention is not focused on the economy right now. Following Labor Day we could be facing some retreat from these extremely low rates, but for now, consumers should take advantage of the chance to lower their "life operating costs."
 
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