Mortgage Rate Trend Index Down: April 19, 2017
Will rates go up, down or remain unchanged?
Senior loan officer, RPM Mortgage, San Francisco
Both the daily and weekly stochastic techs are bullish (higher prices, lower yields) and portending lower yields and home loan rates. Geopolitical angst will continue to cause safe haven Treasury buying. Add in the fact that people are starting to realize that fundamentals are weaker than previously believed and we have an excellent formula for lower rates.
Assistant managing editor, Bankrate.com
I'm torn. I think we're on a long-term upward trend in mortgage rates. But in the last month, they've been on a downward trend. So I'll go with the flow and assume that rates will continue to fall for a while longer. I don't advise floating your rate, though. Mortgages could turn without notice.
Loan officer, Macoy Capital Partners, Los Angeles
The 10-year is currently trading at 2.21 percent, which is down from a high of 2.51 percent on Jan. 25. What is most interesting to note is the Fed has raised rates multiple times throughout this first quarter of 2017. A couple of comments on this: 1) the market is always ahead of the Fed: 2) the economics of the U.S. and the world in general, are no better (and probably worse) than they were when Trump took office. I am of the opinion that the Fed will stop raising rates and the 10-year Treasury will fall another 10 basis points to about 2.09 to 2.12 percent and hover in the margin.
Mortgage originator, Finance of America Mortgage, Portland, Oregon
Bad news is good news for the bond market. The silver lining to all the unrest in the world is that mortgage rates are improving.
Vice president of capital markets, CMG Financial, San Ramon, California
With new economic data showing that first-quarter figures were far weaker than original expectations, there is now talk of a strong dollar hurting the domestic economy in the near term and an overall sense that we should continue the current policy of a low rate environment. This is a bit of an issue as the Fed has already laid out plans to increase rates an expected three times in 2017. Homebuilder confidence dipped mostly due to a record reading in March, the move did little to sway optimism headed into the spring "buying season".