Mortgage Rate Trend Index Down: July 19, 2017
Will rates go up, down or remain unchanged?
Branch manager, Sierra Pacific Mortgage, White Marsh, Maryland
A report on import prices for June showed a decline in those prices. This is another report showing lower or slowing inflation. Markets are starting to doubt if the Fed can or should raise rates in this low inflation environment. Bond have rallied on these reports leading to lower mortgage rates. I think the trend will continue and we will see a slight drop in rates in the coming week.
Robert A. Brusca
Chief Economist, Facts and Opinions Economics, NY, NY
Looking for rates to ease lower this week.
Senior loan officer, RPM Mortgage, San Francisco
The daily tech of the 30-year Treasury bond turned bullish (higher prices. lower yields and rates) on 7/18. This should lead to a couple of weeks of lower rates. Sometime later this year we should see some rather outsized moves in equities and Treasuries because a) volatility is unnaturally low and b) markets have not responded to weak fundamentals. One can disregard this for only so long.
President and Chief Economist, Naroff Economic Advisors, Holland, PA
Chaos in the GOP makes it doubtful a tax cut or infrastructure spending plan will pass before late this year or early next and if it does, it will likely be less aggressive than many expect. That could cause 2018 growth expectations to be reduced.
Branch Manager, Movement Mortgage, Dallas
Mortgage bonds are in a very tight trading range at the moment which tells us that at some point bonds will break out - either to the upside or downside. A historical pattern has emerged and if history tells the story, mortgage bonds could improve giving us lower rates. It's important to keep in mind that often a "better rate" is very slight and the improvement is easier to see in the pricing of the rate.
Nancy Vanden Houton
CFA, Senior Research Analyst, Stone & McCarthy Research Associates, New York
I expect mortgage rates to move down, one week from now.