Mortgage Rate Trend Index Unchanged: July 20, 2016
Will rates go up, down or remain unchanged?
Branch manager, Sierra Pacific Mortgage, White Marsh, Maryland
With the stock markets setting a new record high almost daily, there is pressure on the bond markets. This new risk on market mentality seems like it will continue for a while. However, I think the bond markets are still concerned about the strength of the global economy. I think this will keep mortgage rates flat in the coming week.
Mortgage originator, Finance of America Mortgage, Portland, Oregon
I think that in the big picture rates will remain relatively unchanged for the week, but we could continue to lose a little bit of pricing. I am proceeding with caution moving forward and locking to be safe.
Mortgage planner, Schaffer Mortgage, Palm Beach Gardens, Florida
Mortgage rates have been pretty resilient this past week and look as though they will remain strong but reasonably flat for another week. Economic data has been mixed and mixed data brings continuity of rates. The stock market has shown remarkable strength following Brexit and could stand to pull back from current levels. Should that happen, rates could benefit if money flows into bonds.
CEO, Arcus Lending Inc., San Jose, California
I see very little chance of mortgage rates getting further lower from here. We are up almost 0.125% in rate in the last 2 weeks. If anything, it can go up a tad more. But most likely, it will remain stable till next week's Fed meeting.