mortgage

Mortgage Rate Trend Index Down: July 24, 2014

Will rates go up, down or remain unchanged?

  • Michael Becker

    Michael Becker

    Mortgage banker, WCS Funding Group, Baltimore

    Treasury yields and mortgage rates have been dropping in recent days. This is because geopolitical concerns in the Middle East and Ukraine are creating demand for bonds in a flight-to-safety trade. I don't expect to see this change over the next week, so we could see the lowest mortgage rates in a year in the coming week.

  • Dick Lepre

    Dick Lepre

    Senior loan officer, RPM Mortgage, San Francisco

    The techs are bullish (higher prices, lower yields) and I see a near-term technical objective on the 10-year Treasury at 2.38 percent. Yields will bounce up after that and then, in about 10 weeks, we may see it test 2.25 percent.

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Product Rate Change Last week
30 year fixed 4.29%  0.01 4.30%
15 year fixed 3.23%  0.06 3.29%
5/1 ARM 3.33%  0.12 3.45%
 
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