Mortgage Rate Trend Index Up: June 25, 2015
Will rates go up, down or remain unchanged?
Sales manager, Fairway Independent Mortgage, Silverdale, Washington
"My Big Fat Greek Roller Coaster." So, Greece, are you in the eurozone or are you out? Are your banks opening or not? On June 19, we received a large improvement in rates. That was when Greek comments came out that there may be issues on Monday. Monday came and, well, they struck a deal. Now there might not be a deal. I say lock because the trading range for bonds has a ton of room to improve and fall. I am not waiting in line for this roller-coaster ride. Lock in, folks; if you do float, be prepared for some barrel rolls.
Assistant managing editor, Bankrate.com
I expect positive economic news to keep coming, pushing mortgage rates upward. The June employment report will be released July 2 (a day early), and it will preserve the upward momentum.
Greg McBride, CFA
Chief financial analyst, Bankrate.com
The better tone of economic data could push mortgage rates higher.
Senior loan officer, AMC Lending Group, Irvine, California
The trend is higher as long as the 10s have higher highs and higher lows: 2.4% 10s pricing on Wednesday. Key levels under were broken 2.35% and 2.29%, and we have had a sharp rise in yields. Key short term: the European drama and Greece. Tomorrow the tape will be interesting.
Mortgage reporter, Bankrate.com
Mortgage rates will continue an upward trend.
Director of secondary marketing, CMG Financial, San Ramon, California
The Fed was extremely predictable and held their current position of rates, possibly increasing toward the end of the year. But without any timetable release, many still question whether they will hold true to that belief. The economy continues to send mixed signals with most of the information leaning toward the positive. This has created an atmosphere in which the market is pushing rates higher independent of Fed intervention/insight. As I have stated several times before, Greece is yet again up against a deadline in its effort to borrow money to pay off previously borrowed money. The hope is that if this endless circle should end, the market has accounted for the default, leaving little to no effect as a result.