Each week, Bankrate.com surveys mortgage experts
to gauge the state of mortgage rates over the next 30 to 45 days: Will rates rise,
fall or remain relatively unchanged?
This week (March 29 - April 4) the experts say:Rates probably aren't going anywhere.
PANEL:
Down: 29%
Up:
21%
Unchanged:
50%
This
week, half of the panelists believe mortgage rates will remain relatively unchanged
(plus or minus 2 basis points) over the next 35 to 45 days. The rest are evenly
split among those who think rates will rise and those who believe rates will fall.
"As
the perceived risk of mortgage lending increases, investors will demand higher
yields." -- Dan Green, mortgage planner, Mobium
Mortgage, Chicago RATE
VOTE: Up
"The techs
say that rates should fall so I say that rates should fall. Life is so simple;
we just make it complicated." -- Dick Lepre, senior
loan officer, Residential Pacific Mortgage, San Francisco RATE
VOTE: Down
"Twelve
times in the past four months we have tried to break to lower rates, only to be
turned away by a tough technical barrier. We will need a significant set of events
to drive rates lower from here but they should remain stable. Rates are still
very attractive." -- Jim Sahnger, mortgage consultant,
Palm Beach Financial Network, Stuart, Fla. RATE
VOTE: Unchanged
"With
consumer spending comprising 67 percent of GDP combined with housing sector slowdown,
core PCE will remain contained. Jobless claims coming in higher than expectations
will be evident this month or next. Revisions in durable goods to the negative
further confirms slowdown. Global securities jitters will continue to buoy bonds." -- Dan Dowling, president, United Mortgage Capital Corp.,
Altamonte Springs, Fla. RATE
VOTE: Down
"The
Mortgage Rate Market has been in a level trading rage for a month now. Up a little,
than down a little. I expect that to continue for the near future." --
Ed Conarchy, financial educator and trainer, Majestic Mortgage and Consulting,
Vernon Hills, Ill. RATE
VOTE: Unchanged
"The
10-year Treasury closed at 4.6 percent this evening, which is .05 above last week
and .10 above two weeks ago when we were are the all-important 4.5 percent. We
are still at the low end of our trading range that I talk about each week. The
Fed left rates unchanged as we all expected but there is new trouble coming our
way. The market is starting to price in that the Fed may lower rates to help with
the housing fallout. If that theory continues and actually happens the long rates
will shoot up making things worse." -- Mitch Ohlbaum,
president, Legend Mortgage, Los Angeles RATE
VOTE: Unchanged
"We
are on the verge of a government bailout for millions of homeowners that face
foreclosure and homelessness. For millions of other (marginal) borrowers on the
verge of foreclosure, the government will do everything possible to keep them
in their homes." -- Jeff Lazerson, president, Mortgage
Grader, Laguna Niguel, Calif. RATE
VOTE: Down
"There
is still healthy trading of Treasuries and no real good or bad economic or geopolitical
issues seem to be lurking at this time." -- Bob
Moulton, CEO, Americana Mortgage Group, Manhasset, N.Y. RATE
VOTE: Unchanged
BANKRATE'S ANALYST:
"Mortgage
rates will remain in a narrow band as the tug-of-war between inflation pressures
and slower economic growth get sorted out." --
Greg McBride, senior financial analyst, Bankrate.com RATE
VOTE: Unchanged
"As
home sales falter, competition among mortgage originators will grow even more
ferocious." -- Holden Lewis, senior reporter, Bankrate.com RATE
VOTE: Down
About
the Bankrate.com Rate Trend Index Bankrate.com
surveys experts in the banking and mortgage fields to see if they believe certificate
of deposit and mortgage rates will rise, fall or remain relatively unchanged.
For the deposit index, the panel comprises banks, thrifts and credit unions that
directly offer FDIC-insured certificates of deposit to the end consumer. For the
mortgage index, the panel comprises mortgage bankers, mortgage brokers and other
industry experts who provide residential first mortgages to consumers. Results
from Bankrate.com's CD
Rate Trend Index will be released each Wednesday. Results from Bankrate.com's
Mortgage Rate Trend Index will be released each Thursday.
