Mortgage Rate Trend Index Up: Oct. 8, 2015
Will rates go up, down or remain unchanged?
Senior loan officer, RPM Mortgage, San Francisco
The daily tech turned bear bearish (lower prices, higher yields) on Oct. 6. The weekly is still bullish and will minimize any increase in Treasury yields and mortgage rates. There is still annoying volatility in the Treasury markets.
Greg McBride, CFA
Chief financial analyst, Bankrate.com
Mortgage rates dropped following the disappointing employment report, but they've bottomed out and now it is time to move slightly higher.
Senior loan officer, AMC Lending Group, Irvine, California
We had a key test of the 2% line last week after the soft jobs report. The line held and the currency market is acting better, while the Fed rate hike might be away, we might have seen an intraday low last Friday in the short term.
CEO, Arcus Lending Inc., San Jose, California
Even with weak economic news, mortgage rates haven't gone down much. It shows a generally negative bias toward mortgage-backed securities (MBS). With not much economic news expected this week, expect the MBS to go down in price and the mortgage rates to go up.
Vice president of capital markets, CMG Financial, San Ramon, California
The turmoil caused by the Fed's decision not to raise interest rates has subsided and markets are again attempting to normalize as the possibility of a rate increase in 2015 is dwindling. Mortgage applications skyrocketed due to a combination of lower interest rates and new reforms that took effect Oct. 3 regarding borrower disclosures. Global pressure continues to remain high as Russia is increasing its military presence in the Middle East, while China continues to deal with its internal slowdown.
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