Mortgage Rate Trend Index Unchanged: May 17, 2017
Will rates go up, down or remain unchanged?
Senior loan officer, RPM Mortgage, San Francisco
The daily tech is bullish (higher prices, lower yields). This would usually indicate lower rates but the weekly is trying to turn bearish. In short, the techs are mixed and have little to offer. Volatility in Treasuries is, just like the volatility in equities, extremely low. Nothing significant in the way of change.
Senior loan officer, AMC Lending Group, Irvine, California
Wow, 24 hours ago the statement I would have said yield unchanged not much is going on and be careful of headline news action like I have been saying the last two weeks. However, that headline came yesterday with President Trump's Comey discussion. Dollar is down, gold is up, stock futures are down and the 10-year yield as of Wednesday morning is at 2.25 percent.
Wild week, so keep this in mind: A close under 2.27 percent can give you yield action down to 2.18 percent. If we close under 2.18 percent, look for rate pricing to get better. Keep an eye out on the news and any stock market sell-off can lead to more dollars to the bond market.
President, Americana Mortgage Group, Manhasset, New York
Rates are flat.
Branch Manager, Movement Mortgage, Dallas
Mortgage bonds are a safe haven trade and typically benefit when there is uncertainty. Bonds are experiencing this uncertainty now, which provides improvement to mortgage rates. Bonds are at the highest level seen in a long time and it is tough to see continued improvement from this level. Hopefully bonds will hold and mortgage rates will hang onto the improvement, leaving rates unchanged.
Vice president of capital markets, CMG Financial, San Ramon, California
Unfortunately, the political world has somewhat taken over markets with little to no movement based on economic data and some rather significant moves based on the finger-pointing by both sides in Washington. Foreign disputes have remained relatively calm, which has helped decrease market fluctuations and keep mortgage rates stable. Home prices continue to be a heavy factor in the purchase market and even with rate stability, purchase applications saw a decrease in their latest figure.