Mortgage Rate Trend Index Unchanged: Oct. 16, 2014
Will rates go up, down or remain unchanged?
Branch manager, Sierra Pacific Mortgage, White Marsh, Maryland
For the second week in a row, mortgage rates are dropping rather quickly. Treasury bonds are benefiting from the sell-off in stocks, as well as from a flight to safety that is the result of concern about the slowing of the global economy. Last week I didn't think rates could fall much further, given the size of the recent drop in rates, but I was wrong. This week, with the 10-year Treasury hovering around 2 percent, it's hard to see rates dropping further, because 2 percent is a huge psychological threshold. Absent a major negative event, I don't see rates dropping further. They will be flat in the coming week.
Dick J. Lee
President, Independent Mortgage, Newton, Massachusetts
The markets are suffering from weak economic growth, which will result in a roller-coaster week across the board. As a result, rates will remain at current levels.
President, Americana Mortgage Group, Manhasset, New York
Rates are flat.