Mortgage Rate Trend Index Down: Aug. 27, 2015
Will rates go up, down or remain unchanged?
Senior loan officer, RPM Mortgage, San Francisco
With markets behaving in such an unpredictable manner, it should be the case that we have flight-to-quality buying of Treasury debt and lower mortgage rates.
Vice president of capital markets, CMG Financial, San Ramon, California
The global economy has the stock market in panic mode, with major pricing swings occurring daily, even as domestic economic news is holding fairly steady. The dollar is gaining strength due to the global downturn, which has the inflation rate below targets set by the Fed to increase rates in September. Based on their previous statements, the criteria have not been met, and announcements made in recent days by members signal that they will hold rates through the remainder of the year. The 10-year Treasury has found recent lows, but not as low as many anticipated, hovering just under or just above the 2% mark. Although mortgage rates have seen some relief, the expectation would be a further decrease, especially if the Fed refrains from the September increase.
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