Mortgage Rate Trend Index Up: Feb. 4, 2016

Will rates go up, down or remain unchanged?

  • Shaun Guerrero

    Shaun Guerrero

    Branch manager, Alterra Home Loans, Silverdale, Washington

    Numbers don't lie. The employment report, which impacts mortgage rate trends heavily, looks to be strong. This is bad for rates. Confidence in the jobs report will have money flowing out of the bond market into the stock market. As a result, I say lock. We had an incredible run when it comes to low rates over the last few weeks in the wake of plunging oil prices. Now as we approach the weekend of the big game I encourage you to make good choices, unlike Cam Newton's fashion selection. (Really, Cam -- really?! Tiger pants? C'mon, man. …)

  • Dick Lepre

    Dick Lepre

    Senior loan officer, RPM Mortgage, San Francisco

    The daily tech just ran nicely through a bullish cycle and is about to turn bearish (lower prices, higher yields), which could send rate slightly higher -- nothing dramatic.

  • Logan Mohtashami

    Logan Mohtashami

    Senior loan officer, AMC Lending Group, Irvine, California

    First, last week we talked about that key 2% level: If it didn't hold, we would hit 1.87%. That happened, and it happened very fast, too, we dove down to 1.87% very quickly.

    Second, pricing on 10's is 1.84%. If we close in this area and get follow-through, we can test the very key level of 1.60% -1.65%. This has been the bottom long-term channel on 10's since mid-2013, when the taper spike happened.

    Last year we got to 1.64% and bounced off and then rose to 2.49%, so keep an eye out on today's close (Wednesday pricing) and the follow-through action. Jobs Friday is coming up, and look for some payback from last month's strong print, which did nothing to keep yields higher.

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