mortgage

Mortgage Rate Trend Index Up: Jan. 22, 2015

Will rates go up, down or remain unchanged?

  • Michael Becker

    Michael Becker

    Branch manager, Sierra Pacific Mortgage, White Marsh, Maryland

    The decision by the European Central Bank regarding their version of quantitative easing will go a long way in determining the direction of interest rates over the next week. If the ECB moves forward with QE, as the market expects, then I think stocks will rally and bonds will sell off, leading to higher yields and higher mortgage rates. If the ECB disappoints markets and doesn't announce QE or they announce a smaller version of QE than markets are hoping for, then I think stocks will sell off and bonds will rally, leading to lower yields and mortgage rates. I doubt the ECB will disappoint markets after talking about QE for months, so I expect higher mortgage rates in the coming week.

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