Mortgage Rate Trend Index Unchanged: May 26, 2016
Will rates go up, down or remain unchanged?
Vice president, Northpointe Bank, Holland, Michigan
Mortgage interest rates increased ever so slightly over the last week, due to a rebounding stock market and some positive economic data releases. With that being said, interest rates remain at or near their 3-year low, which makes this an incredible time to take advantage of this rate environment. Contact your local mortgage professional today to see what things would look like for you if you were to buy, build or refinance.
Greg McBride, CFA
Chief financial analyst, Bankrate.com
The Fed has definitely talked up the prospect of a summer rate hike. Now we just need to sit back and see if the incoming economic data support it.
Senior loan officer, AMC Lending Group, Irvine, California
Channel is still stuck, now testing the higher range. Key points: 1.70% level has held twice, oil is about to hit $50, and we haven't been able to break through 1.90%, even with the market near new highs.
Stick to this channel on the 10-year if we can break above 1.90%. Close and next day follow-though action, more likely 1.94% on 10's we can see some higher rate pricing. Until then, not much going on here.
President, Americana Mortgage Group, Manhasset, New York
Rates are stable.
Mortgage planning specialist, Highlands Residential Mortgage, Dallas
I expect rates to remain in a sideways fashion in the coming week as long as Fed members don't spook the markets with chatter of a June rate hike. Global markets are giving the U.S. bond market a bit of support along with the continued bond-buying from the New York Fed. On the flip side, we have higher oil prices and a healthy read on housing data, which put pressure on bonds. This push-pull should keep rates somewhat unchanged in the short term.
See current mortgage interest rates and the latest mortgage analysis.