mortgage

Mortgage Rate Trend Index Unchanged: July 27, 2016

Will rates go up, down or remain unchanged?

  • Holden Lewis

    Holden Lewis

    Assistant managing editor, Bankrate.com

    The Federal Reserve reiterated that short-term interest rate increases will arrive gradually. Meantime, it's reinvesting principal payments from its vast reservoir of mortgage-backed securities into more mortgage-backed securities. That strengthens the gravity that keeps mortgage rates from going aloft.

  • Logan Mohtashami

    Logan Mohtashami

    Senior loan officer, AMC Lending Group, Irvine, California

    Wednesday pricing 1.54% on 10-year Treasury yields. Until we break above 1.64%, no higher rates coming and the channel is between 1.34% and 1.64%. The Fed will speak today and we will see what happens. However, not much going on unless we break above 1.64%.

  • Bob Moulton

    Bob Moulton

    President, Americana Mortgage Group, Manhasset, New York

    Rates are stable.

  • Dick Lepre

    Elizabeth Rose

    Mortgage planning specialist, Highlands Residential Mortgage, Dallas

    Following the Fed statement, mortgage bonds enjoyed a nice rally. Now, back over a level which, if it holds, will act as a support level. With this, bonds will be trapped in a narrow window between support and resistance, and will likely trade sideways. We have a few high-impact economic reports in the week ahead, however I expect this narrow range to hold.

  • Jim Sahnger

    Jim Sahnger

    Mortgage planner, Schaffer Mortgage, Palm Beach Gardens, Florida

    The Federal Reserve met this week. Following Brexit, there has been a lot of concern on the direction of global and U.S. economies. The Fed really had no decision to make today other than to not move. Any move this year would be surprising, but in the meantime, look for rates to remain favorable for the next week. Keep in mind, though, the Federal Reserve doesn't change mortgage rates.

    If we get a strong employment report next week, we may have seen the best rates of the year. If you are wanting to refinance, I would get moving.

advertisement


Connect with us