Expert Poll: Mortgage Rate Trend Predictions For May 19-25, 2022 | Bankrate
Experts say rates will ...
Stay the same
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Mortgage experts are split over where rates are headed in the coming week (May 19-25). In response to Bankrate's weekly poll, 38 percent said rates are headed higher and another 38 percent said rates will stay the same. The remaining 25 percent expect rates to fall. Calculate your monthly payment using Bankrate's mortgage calculator.
Mortgage rates go down. Here's a parody based on Cat Stevens' 1970 classic, “Wild World.” "Hope bulls make another nice trend out there. But just remember there's a lot of bears and beware. Beware. Oh Powell, Powell, it's a wild world." Will the bears (higher rates) find the power to end the secular bull market (lower rates) that began in the mid-80s? Maybe, but not near term.
A lot of craziness in the financial markets this past week has resulted in a net zero change in things. The yield on 10-Year Treasury notes has settled in around 2.90 percent. 30-year mortgage rates have settled in as well, ranging between 5.25 percent and 5.50 percent. We should expect more of the same next week as the Fed waits on the latest news in housing prices. We should expect to see no change in long-term mortgage rates next week.
Loan agent,CrossCountry Mortgage,Alamo, CA
Trend: Flat. For the short run I'm going with flat because there is no option called "clueless." Day to day is uncertain. Longer term (next few weeks and months) will see higher rates.
Bonds sold off earlier this week on a stronger than expected retail sales number. However, those loses are reversing today as stocks sell off as a result of weak quarterly earning reports for two large retailers: Target and Walmart. I expect this give and take to continue in the coming week resulting in mortgage rates being flat for the week.
About the Bankrate.com Rate Trend Index
Bankrate's panel of experts is comprised of economists, mortgage bankers, mortgage brokers and other industry experts who provide residential first mortgages to consumers. Results from Bankrate.com’s Mortgage Rate Trend Index are released each Thursday.
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