Each week, Bankrate surveys experts in the mortgage field to see where they believe mortgage interest rates are headed.
This week (March 21-27), 46 percent of the panelists believe mortgage rates will rise over the next week or so; 31 percent think rates will fall; and 23 percent believe rates will remain relatively unchanged (plus or minus 2 basis points).
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Read the comments and rate predictions of mortgage experts and Bankrate analysts below.
Robert A. Brusca
Fact and Opinion Economics, New York
Mortgage rates will be higher this week.
Mortgage loan officer,
Grande Financial, Maumee, Ohio
Mortgage rates will increase slightly.
Founding director and executive-in-residence of the O’Neil Center for Global Markets & Freedom SMU Cox School of Business & former chief economist, Dallas Federal Reserve Bank, Dallas
Mortgage rates will increase this week.
Certified mortgage planning specialist and branch manager,
Academy Mortgage, Yuma, Arizona
The market continues to drift towards higher rates. With the continued economic strength, look for rates to be solidly in the 5’s by the end of summer.
Greg McBride, CFA
Senior vice president and chief financial analyst, Bankrate.com
The Fed is confident about the economy and the expectations of faster growth, and an uptick in inflation will push bond yields and mortgage rates higher.
President and Chief Economist, Naroff Economics, Holland, Pennsylvania
Mortgage rates will increase this week.
Senior loan officer,
RPM Mortgage, San Francisco
This is a tough market to call, but the daily and weekly techs are bullish (higher prices, lower yields) and should send mortgage rates slightly lower in the coming week. Macro data has been confusing with a great jobs market but two months of lower retail sales.
Senior loan officer, AMC Lending Group, Irvine, California
Well, that was a very hawkish Fed statement that came out, and it drove yields higher from 2.89 percent to 2.92 percent. However, until we close above 2.95 percent with follow-through action, which is key, I can’t take the higher road on rates unless oil really takes off this week. So, we are at the higher range of the channel, which means you could see some pullback in yield capacity. Again, as always, technical levels matter, so keep an eye out around that 2.95 percent level.
Senior vice president of LoanLogics, Trevose, Pennsylvania
In spite of the Federal Reserve tightening on March 21 and two to three more fed fund rate increases expected before the end of 2018, expect the dollar strength to support long-term lower rates.
Nancy Vanden Houton, CFA
Senior research analyst,
Stone & McCarthy Research Associates, New York
Mortgage rates will be lower this week.
Branch manager, Sierra Pacific Mortgage, White Marsh, Maryland
Treasury yields are climbing after the Fed announced its decision to raise the federal funds rate 0.25 percent. The hike was expected by the market, but I suspect the updated economic forecast in which the Fed has increased their expectations of economic and employment growth is what is driving yields higher. They also increased their expected rate hikes in 2019. This reaction is a bit surprising considering the market knew that both tax cuts and increased fiscal spending were passed since the last Fed meeting with economic projections in December. In the past, these knee-jerk reactions to Fed meetings have usually reversed themselves in the days following the meeting. I expect the same to happen this time around, and rates to be about where they are now next week.
Americana Mortgage Group, Manhasset, New York
Rates are stable.
Nations Lending, Dallas
Mortgage bonds have taken a hit the past few days after testing a resistance level. Inflation remains relatively tame, which is good for bonds. Uncertainty is in the air – brought about, in part, by the new tax plan and potential tariff. Stocks are taking a hit. However, bonds are not benefiting. I expect mortgage bonds to maintain a somewhat sideways pattern and remain unchanged in the week ahead.
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.