Mortgage experts divided on where rates will go in the week ahead

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Experts polled by Bankrate gave mixed answers to where mortgage rates will go in the coming days.

An equal share of respondents to the poll — 46 percent — said rates should remain the same or rise this week. Only 8 percent said they would go down.

Where experts see mortgage rates going next week

“Long-term mortgage rates have remained almost unchanged in the last month. The same is true for yields on 10-year Treasurys,” said Ken H. Johnson, a real estate economist at Florida Atlantic University. “This is not the week to break that pattern.”

Gordon Miller, owner of Miller Lending Group in Cary, North Carolina, agreed. “There is just not a whole lot of market moving news heading into the holidays to cause any shift in the near term outlook until we start to see infection rates drop,” he said.

Those who anticipated rising rates largely think they’ll be driven by pandemic-related developments.

“Up,” said Joel Naroff, president and chief economist at Naroff Economic Advisors in Holland, Pennsylvania. “Vaccine rollout drives optimism.”

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Written by
Zach Wichter
Mortgage reporter
Zach Wichter is a mortgage reporter at Bankrate. He previously worked on the Business desk at The New York Times where he won a Loeb Award for breaking news, and covered aviation for The Points Guy.
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