mortgage

Mortgage Rate Trend Index Up: Aug. 28, 2014

Will rates go up, down or remain unchanged?

  • Shaun Guerrero

    Shaun Guerrero

    Sales manager, Fairway Independent Mortgage, Silverdale, Washington

    Rates are better from last week. The Mortgage Bankers Association reported that total loan application volume rose by 2.8 percent in the latest week, as home loan rates are close to one-year lows. Both the refinance and purchase applications were up 3 percent as borrowers take advantage of low rates.

    I recommend locking because mortgage bonds (financial instruments that home loan rates are generated from) have approached levels similar to where we are at now that rates have crumbled like Colin Kaepernick in last year’s NFC championship (Seahawks fan bias). Therefore, take a timeout, lock in your mortgage rate at 12-month lows.

  • Polyana da Costa

    Polyana da Costa

    Senior mortgage reporter, Bankrate.com

    Rates have been near the bottom for so long. I think they are ready for a slight increase. The employment reports that come out next week might push rates up a little.

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