Mortgage Rate Trend Index Unchanged: Sept. 21, 2016
Will rates go up, down or remain unchanged?
Senior loan officer, AMC Lending Group, Irvine, California
Key for today, Wednesday pricing is 1.70% for the 10-year Treasury. After the channel has broken, the 10-year hasn't gone anywhere, really, and is waiting for the Fed's statement. The Fed hiked last year -- the 10-year went from 2.21% to 1.31% -- so Fed pushing long end bonds all the time isn't valid in this cycle. However, unlike last year, technically, bonds have a better backdrop of selling off rather that testing a key high end channel. However, still, we need to see the statement and how bonds react because we are so close on the higher end channel of the Brexit.
President, Americana Mortgage Group, Manhasset, New York
Rates are flat.
Sales Manager, Movement Mortgage, Dallas
Rates continue to travel in a narrow sideways pattern, although expect some movement intraday. There are no major economic reports coming out over the next week and no catalyst for much change. This sideways, rather dull pattern is not a bad thing at all.