Mortgage Rate Trend Index Unchanged: Oct. 30, 2014
Will rates go up, down or remain unchanged?
President, Independent Mortgage, Newton, Massachusetts
Rates will remain unchanged, the five-year window for Medicare and Social Security will start worsening and will be rising with demographics.
Assistant managing editor, Bankrate.com
The end of QE3 was baked into the rate cake, so there won't be much effect on mortgage rates. I recommend locking before the morning of Nov. 7, when the October employment report is released.
Senior loan officer, AMC Lending Group, Irvine, California
The 10-year Treasury's low point on Fed Day: 2.27 percent. Last week: 2.24 percent. Not much movement, but we saw a spike on the 10-year to 2.35 percent. We are now 48 basis points higher from the 10-year two weeks ago.
It looks like we have seen the lows in mortgage rates for 2014. The irony is on the day the Fed ends QE we are at 21st-century lows for mortgage purchase applications. Can we get a refund on that $4.4 trillion?
President, Americana Mortgage Group, Manhasset, New York
Rates are flat.
Mortgage planner, Schaffer Mortgage, Palm Beach Gardens, Florida
The Fed has spoken and it has ended QE. Time will tell what the real impact is, but for now, look for rates to remain unchanged to slightly improved over the course of the next week. The markets will digest the news and evaluate what next happens to equities. If traders believe the safety net has been removed from stock purchases, it could be favorable for the bond market.
Director of secondary marketing, CMG Financial, San Ramon, California
Markets have calmed even as the Fed begins the final stages of QE3. Many believe there will be another round of easing if any negative economic indicators take hold. Mixed bag domestic indicators are outweighing the negative signs that continue to come from Europe, in particular the European Union.