Michael BeckerMortgage banker, WCS Funding Group, Baltimore
The stock market rally continues unabated, and that is generally bad for Treasury yields and mortgage rates. It seems nothing these days can keep stocks from rising. Today, for example, both the Empire State Manufacturing Survey and the industrial production report came out weaker than expected, yet stocks are rising. If you couple this weakness with the fact that European (gross domestic product) contracted in the first quarter, one would think stocks would sell off and bonds would rally. But that's not the case. I don't know what will break the upward momentum in stocks, but until that happens, I expect mortgage rates to continue to rise.
Derek EgebergBranch manager, Academy Mortgage, Yuma, Ariz.
With the continued rise in the stock market, look for rates to rise.
Greg McBride, CFASenior financial analyst, Bankrate.com
The prevailing glass-half-full economic sentiment is pushing mortgage rates higher.