Mortgage Rate Trend Index Unchanged: Dec. 7, 2016
Will rates go up, down or remain unchanged?
Branch manager, Alterra Home Loans, Silverdale, Washington
Average 30-year fixed mortgage rate is at its highest in over 13 months; however, the waters are calming. Technical signals are playing in our favor. We may see a little relief over the next two weeks. For now I will say rates will remain unchanged. I am optimistic for an improvement, though.
Assistant managing editor, Bankrate.com
The mortgage bond market assumes that the Federal Reserve will raise the federal funds rate by a quarter of a percentage point, and the increase has already been baked into mortgage rates. Mortgages won't change much between now and the Fed's monetary policy statement, which comes out the afternoon of Dec. 14.
President, Americana Mortgage Group, Manhasset, New York
Rates are stable.
Mortgage planner, Schaffer Mortgage, Palm Beach Gardens, Florida
Look for rates to remain stable for the next week heading into the FOMC meeting.
CEO, Arcus Lending Inc., San Jose, California
No serious reversals yet, but selling in bond and mortgage market has slowed. In my view the rally in stock is overdone. I do not see any significant downside to rates yet, but it shouldn't go up further from here.
Vice president of capital markets, CMG Financial, San Ramon, California
After a roughly 50 basis-point increase over the past three weeks, mortgage rates continue to fluctuate as markets attempt to digest a new president-elect, continued global economic woes, and a probable rate hike by the Fed at its December meeting. Most investors believe that markets have accounted for a 0.25 percent increase and that movement will be minimal once the decision is officially made in regards to a rate increase. The housing market is starting to cool slightly in several key markets, some blame this on an increase in rates and others due to seasonal conditions, the bigger question is how the housing market will fair early next year if current domestic economic conditions remain the same.