Mortgage Rate Trend Index Unchanged: Sept. 13, 2017
Will rates go up, down or remain unchanged?
Senior loan officer, RPM Mortgage, San Francisco
The daily tech is bearish (lower prices, higher yields), while the whole week is bullish. We should see the 10-year Treasury and mortgage rates stay flat for the next week. Note again that the long term monthly tech is about to turn bullish and start a secular bull cycle. This will happen within the next two months.
Senior loan officer, AMC Lending Group, Irvine, California
Epic reversal in yields from last week. Even though we are creating lower lows and lower highs on the 10-year yield and got as low as 2.038% last week. We still couldn't break under 2% on 10's and this area of the bond market puts up a good fight. Still no market sell-off yet to send dollars to bonds.
Vice president, Northpointe Bank, Holland, Michigan
Mortgage interest rates crept up a bit this week. After hurricane Irma proved less-destructive than anticipated and North Korean tensions eased slightly, investors took on increased risk tolerance with stocks as the beneficiary and having a negative impact on bonds – where mortgage interest rates are derived from. However, with that being said, mortgage interest rates are still very attractive and near their low point of 2017, making this an ideal time to take advantage of them. Contact your local mortgage professional today to see what this might mean for you, whether you’re looking to purchase, refinance or build your home.
Vice president of capital markets, CMG Financial, San Ramon, California
Fortunately for mortgage rates, the debt “ceiling” debate was extended to December which has squarely put the focus on the Fed meeting this month. It is expected that the Fed will announce plans for balance sheet normalization and a possible rate increase by the end of 2017. With the two recent tropical storms domestically, we saw a focus that shifted away from foreign escalations which helped to reduce volatility across global markets.