mortgage

Mortgage Rate Trend Index Unchanged: Aug. 14, 2014

Will rates go up, down or remain unchanged?

  • Michael Becker

    Michael Becker

    Branch manager, Sierra Pacific Mortgage, White Marsh, Maryland

    Mortgage rates are holding near their lows for the year. Retail sales came in below expectations for the third month in a row, so some may again begin to question the strength of the recovery. With geopolitical concerns still running high and growth faltering in Europe and Japan, I don't see rates rising anytime soon. Given their current low level, I don't see them dropping further without some type of catalyst. I expect that rates will remain at their current level in the coming week.

  • Polyana da Costa

    Polyana da Costa

    Senior mortgage reporter, Bankrate.com

    Rates have been stagnant for weeks and I don't see that changing anytime soon. Enjoy the low rates!

  • Derek Egeberg

    Derek Egeberg

    Branch manager, Academy Mortgage, Yuma, Arizona

    Things seem to have settled down just a bit in the roller-coaster world of the bond market and mortgage interest rates. Some of the global tensions seem to be easing a bit, and economic data being released domestically has been sort of a mixed bag of good news and bad news. Remember: The bond market, where mortgage interest rates are priced, is the beneficiary of uncertainty or negative information or both -- the sorts of things we don't wish for! That being said, mortgage interest rates remain very attractive.

  • Dick Lee

    Dick J. Lee

    President, Independent Mortgage, Newton, Massachusetts

    Traders are on vacation for the majority of August.

  • Holden Lewis

    Holden Lewis

    Assistant managing editor, Bankrate.com

    The Fed effectively controls mortgage rates with its asset purchases. And the Fed has rates right where it wants them. What happens after October, when quantitative easing ends, is anyone's guess.

  • Logan Mohtashami

    Logan Mohtashami

    Senior loan officer, AMC Lending Group, Irvine, California

    The 10-year Treasury note, as predicted, broke through that 2.44 percent key line last week and closed at 2.42 percent. However, after an early drop in yields last Friday, the 10-year made an impressive comeback to close at 2.42 percent. This is similar to the breach of the 2.47 percent level. Longer channel not broken in my eye. We could see some consolidation at this 2.42 percent level before the 10-year note makes up its mind to break the channel lower or head slightly higher.

  • Bob Moulton

    Bob Moulton

    President, Americana Mortgage Group, Manhasset, New York

    Rates are stable.

  • Jim Sahnger

    Jim Sahnger

    Mortgage planner, Schaffer Mortgage, Palm Beach Gardens, Florida

    There have been only 14 trading days in the past three months where we have closed with weaker bond prices and higher rates than the range where we currently are in. With little economic news slated to be released between now and next week, things should remain relatively quiet. The largest caveat to that is geopolitical issues, which can shake rates up.

    If you purchased a home between 2010 and the beginning of 2013 and have mortgage insurance, you should investigate whether refinancing could save you money. In many markets, like South Florida, for example, values have risen to where you can refinance without PMI and potentially no closing costs as well.

  • Brett Sinnott

    Brett Sinnott

    Director of secondary marketing, CMG Financial, San Ramon, California

    Another boring week for mortgage-backed security pricing, even with the turmoil on both the economic and foreign fronts. Bonds used to be considered the safe haven, but in recent months investors have headed to cash and precious materials as a source of comfort. Borrowers will continue to reap the rewards of a slow-moving mortgage market, but be cautious: The Fed could turn the tide at any point and the wave created will be large.

  • John Walsh

    John Walsh

    President, Total Mortgage Services, Milford, Connecticut

    Mortgage rates have been very stable since May, and unless the geopolitical situation is suddenly clarified (which is unlikely), I think rates will remain unchanged this week.

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