Michael BeckerMortgage banker, WCS Funding Group, Lutherville, Md.Mortgage rates have come down after a disappointing nonfarm payroll report last Friday. With mortgage rates at or below their lowest levels ever, I don't see much chance they will fall further in the coming week. Mortgage rates will hold steady in the coming week.
Kevin BreelandGeneral manager, Residential Mortgage of South Carolina, Mount Pleasant, S.C.The week ahead, like many before it, will create an environment of continued uncertainties. Zero job growth was a surprise and continues to add reasons for a double-dip recession. The market (Tuesday) has been up, then down quite a bit and now back up as of this writing. All of this, however, seems to be good for rates. We are experiencing, if you can believe it, historical low rates. I look for no change in rates for the next seven days.
Bob MoultonPresident, Americana Mortgage Group, Manhasset, N.Y.Rates should stay flat.
Joe NunziataChairman and co-CEO, FBC Mortgage, Orlando, Fla.With very little economic data being released the remainder of this week, we do not feel there will be much movement in interest rates this week. Global equity markets were punished, taking the Dow down more than 200 points (Tuesday). This as well should be good for rates in the short term.
John WalshPresident, Total Mortgage Services, Milford, Conn.A week of contrasts and little fresh economic data will tend to keep mortgage rates close to current levels over the next week. The first contrast is between heightened concerns over the debt and banking crises in Europe with some positive movement to deal with them from Germany, Greece and Italy. The second contrast will be between the competing economic and jobs plans put forth by Republican candidates during their debate and President Barack Obama's speech to a joint session of Congress. These contrasts give little clear direction for the economy.