Mortgage Rate Trend Index Up: Sept. 25, 2014
Will rates go up, down or remain unchanged?
Derek EgebergBranch manager, Academy Mortgage, Yuma, Arizona
As the Fed continues to shrink the mortgage-backed securities program, rates will drift higher.
Shaun GuerreroSales manager, Fairway Independent Mortgage, Silverdale, Washington
In Seattle, when fall starts, the rain returns. Apparently the forecast works for home loan rates, too. Sept. 18-23, mortgage rates steadily improved; on the 24th it rained. Get out your umbrella and lock your interest if you are closing in the next 20 days. If it is longer, the financial forecast has some clearing ahead. Keep in mind, talk of "inflation" is what dark clouds are made of. If you hear it, rates could go from raining to "hail" in a handbasket, quick.
Dick LepreSenior loan officer, RPM Mortgage, San Francisco
The weekly tech is bearish (lower process, higher yields) and calling for slightly higher rates.