Mortgage Rate Trend Index Unchanged: April 26, 2017
Will rates go up, down or remain unchanged?
Senior loan officer, RPM Mortgage, San Francisco
The daily tech is now bearish (lower prices, higher yields and rates) but the weekly is bullish. The election in France coupled with healthier economic growth in the EU caused equity buying there which washed over to the U.S. There may also be some sentiment that Trump is not crazy but rather a president with a different way of doing and expressing things and moreover that World War III is not about to happen. This makes investors more confident. However, economic fundamentals in the U.S. are still mediocre at best.
Assistant managing editor, Bankrate.com
Mortgage rates tend to remain flat in the week before a Fed meeting.
Senior loan officer, AMC Lending Group, Irvine, California
Wow, what an epic turnaround due to the French elections we saw recently. The 10-year channel was broken and oil prices were falling. However, once the election results were in, bonds sold off and stocks rose! Now the down trend in yields is still intact unless we can see a close really on the 10-year at 2.35 percent, then we are back in the channel I have talked about during the year.
Keep an eye out on the news, Tax reform is headline heavy this week.
Mortgage planner, Schaffer Mortgage, Palm Beach Gardens, Florida
I don't expect rates to move much over the next week. While they popped up a little from last week, we should remain stable. As I stated last week, though, with rates where they are, don't play with your lock. Lock early in the application process or at application.
Vice president of capital markets, CMG Financial, San Ramon, California
Rates have inched their way down from the highs seen prior the Fed's latest increase, which is somewhat surprising given that revisions to first-quarter figures have been for the most part down across most markets. Fortunately for the housing market, the result has been positive with both new home sales and median home prices continuing to rise. With the home buying "season" around the corner, many will be watching to see if the Fed follows through on its current model of rate increases for 2017.