Mortgage Rate Trend Index Down: July 24, 2014
Will rates go up, down or remain unchanged?
Michael BeckerMortgage 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 LepreSenior 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.