Mortgage Rate Trend Index Unchanged: Jan. 29, 2015
Will rates go up, down or remain unchanged?
Branch manager, Sierra Pacific Mortgage, White Marsh, Maryland
After a volatile start to the year, mortgage rates have stabilized over the past few days. With the European Central Bank announcing that it will start its own quantitative easing program March 15, markets will be watching the Fed for any changes to its statement at the end of its two-day meeting Jan. 28. With economic reports, like durable goods orders, showing weakness here in the U.S., I think the Fed will be cautious about removing the terms "patient" and "considerable time" from its policy statement. Unless the Fed delivers a surprise, I don't see mortgage rates moving much over the next week.
Polyana da Costa
Senior mortgage reporter, Bankrate.com
There were no surprises in the Fed statement released this week. Mortgage rates should remain stable in the next few days.
Vice president, Northpointe Bank, Holland, Michigan
Mortgage interest rates remain extremely attractive right now, but we don't want to get too complacent thinking that they'll remain at this level forever. Continuing economic challenges, both domestic and foreign, have resulted in the bond market (where interest-rate pricing is derived from) as the beneficiary. Contact your local mortgage professional to see how you can take advantage of the lowest level that interest rates have been in nearly 18 months.
President, Americana Mortgage Group, Manhasset, New York
Rates are flat.
Mortgage planner, Schaffer Mortgage, Palm Beach Gardens, Florida
Look for rates to remain favorable throughout the coming week. While mortgage-backed securities have received a bit of a favorable bump following the Fed announcement, it should primarily bring stability to what has been a volatile week in trading and rates.