Mortgage Rate Trend Index Down: Sept. 20, 2017
Will rates go up, down or remain unchanged?
Robert A. Brusca
Chief Economist, Facts and Opinions Economics, NY, NY
Vice president of capital markets, CMG Financial, San Ramon, California
The Fed has made it extremely clear what they plan to present in today’s meeting in regards to both balance sheet normalization as well as any potential rate hikes thru the remainder of the year. Existing home sales fell for the third month in a row, their lowest point in the past year. Many feel that this is a result of low supply but others would argue that affordability is again becoming an issue as the median price has increased year over year for 66 straight months, translating to roughly 5% higher than last year at this time.
Former Dallas Fed chief economist, founding director of SMU's O'Neil Center for Global Markets & Freedom
Mortgages will be down slightly.