Mortgage Rate Trend Index Up: April 23, 2015
Will rates go up, down or remain unchanged?
Branch manager, Sierra Pacific Mortgage, White Marsh, Maryland
With the Federal Reserve's FOMC meeting looming next week, markets are once again starting to focus on the timing of the Fed's first rate increase. Because of this, I think we will see Treasury yields and mortgage rates rise in the coming week.
Greg McBride, CFA
Chief financial analyst, Bankrate.com
Mortgage rates to move a touch higher as the 10-year Treasury yield approaches 2 percent ahead of next week's Fed meeting.
CEO, Arcus Lending Inc., San Jose, California
This week is again light on economic news. There are weekly jobless claims and monthly durable goods orders. Usually these are not major rate movers. However, the market is turning bearish towards mortgage-backed securities and even a slightly stronger report could mean lower yields. That will result in higher mortgage rates this week; not by much though.
Director of secondary marketing, CMG Financial, San Ramon, California
With little economic news set to release this week, markets have remained relatively quiet, which tends to have investors looking away from the bond market. FHFA announced changes to fees charged by both Fannie Mae and Freddie Mac which will go into effect Sept. 1, meaning lenders will be updating their models in the near future. This change will not affect higher-quality borrowers and there is possible improvement for lower-quality borrowers depending on their LTV and FICO score.