Mortgage Rate Trend Index Up: Sept. 20, 2017
Will rates go up, down or remain unchanged?
President and Chief Economist, Naroff Economic Advisors, Holland, PA
Eventually, we will get back to more realistic rates.
Branch manager, Alterra Home Loans, Silverdale, Washington
I believe that rates will get worse over the next week due to where the current technical levels are. I recommend locking your rates if you were closing alone in the next three weeks.
Greg McBride, CFA
Chief financial analyst, Bankrate.com
Undeterred by recent hurricanes and continued low inflation, the Fed is staying the course by starting the normalization process of their bond portfolio. By bumping up projections of economic growth, continued rate hikes are to be expected.
Mortgage planner, Schaffer Mortgage, Palm Beach Gardens, Florida
The Fed met today and their statement caused a runoff on in bond and mortgage backed securities markets. The immediate impact was a decline in bond prices which is putting upward pressure on interest rates. Geopolitical concerns are taking a back seat in investors eyes as rates have climbed roughly a quarter point since early in September. Look for hurricanes Irma and Harvey to have a negative impact on economic numbers for the next several months but recovery will ultimately bring a pop in growth. Along with that we could expect to see higher rates in the future.