Each week, Bankrate surveys experts in the mortgage field to see where they believe mortgage interest rates are headed.
This week (June 20-June 26), 38 percent of the panelists believe mortgage rates will rise over the next week or so; 38 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.
38% say rates will go up
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
Rates will be up slightly this week.
Certified mortgage planning specialist and branch manager,
Academy Mortgage, Yuma, Arizona
The “summer slide” has begun. Rates will continue to slowly inch higher throughout the year.
Branch manager, New American Funding, Silverdale, Washington
Rates will continue their climb as June progresses.
Greg McBride, CFA
Senior vice president and chief financial analyst, Bankrate.com
If the rhetoric over tariffs and trade manages to subside, expect a little lift in long-term rates.
Americana Mortgage Group, Manhasset, New York
Rates are on the rise.
38% say rates will go down
Branch manager, Sierra Pacific Mortgage, White Marsh, Maryland
While the longer term trend is still about rising mortgage rates, I think we could see a small dip in mortgage rates in the coming week. President Trump seems to be upping the rhetoric in regards to trade tariffs and this should cause some concern about global growth. Add in concerns about Angela Merkel’s ability to remain in power in Germany and you have the makings of a small dip in rates in the coming week.
Robert A. Brusca
Fact and Opinion Economics, New York
Mortgage rates will be lower this week.
Senior loan officer,
RPM Mortgage, San Francisco
If sentiment for equites remains guarded and if anything economically ugly happens in the EU, then the techs are poised to get rather bullish.
President and Chief Economist, Naroff Economics, Holland, Pennsylvania
Rates will go down.
Managing director, Transformational Mortgage Solutions
Mortgage Rates will go down. Here’s a parody of Sara Bareilles’ “Brave” that describes the current situation: “Say what you wanna say/And let the yields fall down/ Honestly, I wanna see you be brave.” If the following trends continue, then the mortgage yields can be brave and drop:
- Escalating tariff war gambits shaking the confidence of global equities.
- Dropping commodities.
- A climbing dollar.
- Faltering emerging markets.
- Falling oil.
23% say rates will remain unchanged
Senior loan officer, AMC Lending Group, Irvine, California
Last week’s lower yield call was based primarily on 3 percent level not cracking while oil is nowhere close to hitting a yearly high. These factors matter in the long and short run on bond yield movements. Today, we’re trading at 2.91 percent in yield and, right now, we are in no man’s land between 2.78 percent and 3.05 percent on 10’s but the bigger key is that if oil can break below $59 dollars we can see yields head lower, so watch OPEC in the future on production cuts.
Mortgage planner, C2 Financial Corporation
While the markets somewhat dusted themselves off from the noise of the commentary and rate hike last week, some are starting to really hear him and believe that Fed Chair Jerome Powell will follow through on more hikes. All that said, look for the opposite pulls of trade war concerns and recent and future Fed action to keep rates range-bound for the next week.
Nancy Vanden Houton, CFA
Senior research analyst,
Stone and McCarthy Research Associates, New York
Rates will remain the same 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.