Mortgage Rate Trend Index Down: Aug. 21, 2014
Will rates go up, down or remain unchanged?
Mitch OhlbaumMortgage banker, Macoy Capital Patners, Beverly Hills, California
The 10-year is trading at 2.41 percent, and considering we are trading below the critical 2.5 percent mark, we really should see some improvement in mortgage rates. It seems that mortgage rates have not been falling at the same rates as the Treasuries over the past 90 days, which means lenders are squeezing some extra profit in an otherwise slow lending environment. In addition, we have the Fed meeting where there is really no news except that there is still what they call "slack" in the employment market. Bottom line: continued low rates.