Mortgage Rate Trend Index Up: Feb. 11, 2016
Will rates go up, down or remain unchanged?
Branch manager, Alterra Home Loans, Silverdale, Washington
Cam Newton didn't perform up to expectations, but mortgage rates sure have. We hit a strong ceiling of resistance due to a monthly bond rollover. Think of this ceiling like the Denver defense … there will be no dabbing for rates as they do not seem to break this plane, even though they have momentum and show promise. As we saw in the Super Bowl, defense wins championships. So defend against a move to the negative for rates by locking at this time.
Senior loan officer, AMC Lending Group, Irvine, California
We talked about that 2% line being key: If that broke, we would go to 1.87%. We got to 1.87% -- that broke fairly easily and now today we are at 1.73% on 10-year Treasuries. The next key support is 1.60%. We had this dance on the 10-year last year and we got to 1.64% before we moved on. It's a bit different now with negative rates all around the world with some countries. However, at 1.73% on 10's today, 1.60% is there. The trend is going, but Yellen is speaking to Congress today.
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