Polyana da CostaSenior mortgage reporter, Bankrate.com
For now, mortgage rates will stay where the (Federal Reserve) wants them, even though the yields on Treasury bonds are rising.
David KuiperMortgage planner, First Place Bank, Holland, Mich.
The bond market continues to trade in a very narrow range with push-pull news almost every day. A good economic report (which usually causes rates to rise slightly) is followed by a negative economic report (which usually causes rates to improve), and it's just been going back and forth. At present, mortgage interest rates are just above their all-time record-low levels.
Dick LepreSenior loan officer, RPM Mortgage, San Francisco
Both the daily and weekly stochastic techs of the 30-year Treasury bond future are bearish (lower prices, higher yields). We are seeing the effects of the long-term (11 more months) bear market for Treasuries, which started Jan. 31. With the spikes in yields and rates in the past week, yields should flatten. However, sentiment is definitely, "Sell bonds." The daily tech should turn bullish in the coming week, keeping us rangebound (hopefully). Fundamentals have been disappointing. This move is technical and sentiment-driven.
Holden LewisAssistant managing editor, Bankrate.com
The yield on Treasuries has gone up in the last week, while mortgage yields have barely moved. I draw the inference that this means that the Fed is actively managing mortgage rates, trying to box them into a narrow range.
Bob MoultonPresident, Americana Mortgage Group, Manhasset, N.Y.
Rates are level.
John WalshPresident, Total Mortgage Services, Milford, Conn.
Following the increase in rates late last week, I believe we will see rates level off in the coming week as a new range is established.