mortgage

Mortgage Rate Trend Index Down: Oct. 16, 2014

Will rates go up, down or remain unchanged?

  • Derek Egeberg

    Derek Egeberg

    Branch manager, Academy Mortgage, Yuma, Arizona

    As continued uncertainty in global economic news is circulated, the bond market continues to strengthen. Look for rates to dip again with any further negative news, both domestic and foreign.

  • Dick Lepre

    Dick Lepre

    Senior loan officer, RPM Mortgage, San Francisco

    This week, all I am going to do is gloat because seven months ago I called for a 2.25 percent yield on the 10-year Treasury note. That level was reached on Oct. 14. This is the bottom, or close to it.

  • Greg McBride

    Greg McBride, CFA

    Chief financial analyst, Bankrate.com

    Markets are gripped by global growth worries, bringing bond yields and mortgage rates back to levels last seen in the first half of 2013.

  • Brett Sinnott

    Brett Sinnott

    Director of secondary marketing, CMG Financial, San Ramon, California

    Economic woes continue in Europe, and that malaise is catching up to figures on the homefront. Several leading indicators are showing a slowdown. The Fed has hinted that rates may stay at current levels longer than expected, with any move now pushed out to the end of 2015. With its quantitative easing (bond-buying) ending this month, the Fed may be forced to use other tactics in order to maintain its dual mandate.

  • Jim Sahnger

    Jim Sahnger

    Mortgage planner, Schaffer Mortgage, Palm Beach Gardens, Florida

    Since Sept. 18, the 10-year Treasury yield has fallen more than 60 basis points. During that same time, mortgage rates have not declined nearly as much. We are benefiting from fear in the markets created by tremendous uncertainty related to the "fear factor" of the day. ISIS, Ebola, economic slowdown, etc., are driving the drops that we are seeing in the equity markets and the frenzy in the bond market. With all of that said, you would think we would have significantly lower mortgage rates compared to a month ago. We haven't yet seen them really slide and likely won't for a while. Rates should continue to improve, but to what degree? The jury is still out.

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