Expert poll: Mortgage rate trend predictions for Nov. 21 - 27, 2024
Written by
| Go up | 17% |
|---|---|
| Stay the same | 50% |
| Go down | 33% |
Mortgage rates are plateauing for now, says the majority of rate watchers polled by Bankrate.
Fifty percent of respondents expect rates to stay flat ahead of the holiday. Of the remaining respondents, 33 percent expect rates to drop and 17 percent predict rates will rise.
The average 30-year fixed rate was 7.02 percent as of Nov. 20, according to Bankrate’s national survey of large lenders, up slightly from 7.00 last week.
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Rate Trend Index
Experts predict where mortgage rates are headed
Week of Nov. 21 - 27, 2024
| Go up | 17% |
|---|---|
| Stay the same | 50% |
| Go down | 33% |
With a lack of major economic reports being released leading up to Thanksgiving, I don’t see much movement in mortgage rates over the coming week.
— Michael Becker, Sierra Pacific Mortgage
17% say rates will go up
Richard Martin
Director of Home Lending, Curinos
[A] decent amount of Fed speakers this week — given the retail sales surprise — think they'll reinforce the potential for slower cuts that continue to be data dependent. As a result, expect rates to rise slightly by week's end.
Sean P. Salter, Ph.D.
Associate Professor of Finance and Dale Carnegie Trainer, Middle Tennessee State University , Murfreesboro , TN
Higher. The 10-year Treasury has risen over the past week, possibly driven by concerns related to future inflation, triggered by the mid-November U.S. inflation report and the more recent reports of higher-than-expected inflation levels from Canada, the UK and elsewhere. Add in the proposed Trump tariffs, and there’s some real concern that inflation isn’t whipped, and the expected big Fed rate cuts aren’t as much a sure thing as they were just a few weeks ago. I believe that mortgage rates will follow upward, as institutions work to protect themselves from this uncertainty.
33% say rates will go down
Heather Devoto
Vice President, Branch Manager, First Home Mortgage , McLean , VA
I’m expecting rates to decline in the week ahead as traders continue to digest the policy implications of the new presidency.
Dan Green
CEO, Homebuyer.com , Cincinnati , OH
This year, I'm thankful for lower rates of inflation and a stronger U.S. dollar.
Ken Johnson
Walker Family Chair of Real Estate, University of Mississippi
The yield on 10-year Treasurys has been moving down slowly for the last week. Long-term mortgage rates will soon follow. Thus, next week we should expect mortgage rates to decline slightly. Are we establishing a trend? Time and 10-year Treasury yields will soon tell.
50% say unchanged–
Michael Becker
Branch Manager, Sierra Pacific Mortgage , White Marsh , MD
Mortgage rates have been fairly steady over the last couple of weeks since the election. With a lack of major economic reports being released leading up to Thanksgiving, I don’t see much movement in mortgage rates over the coming week. Mortgage rates will be flat in the coming week.
Melissa Cohn
Regional Vice President, William Raveis Mortgage
Mortgage rates are going to be stable this week as we head into the Thanksgiving holiday. With no market-moving data until the day before the holiday, there is little to move rates — except for an escalation of the war in Ukraine.
Dick Lepre
Senior Loan Officer, Realfinity , Alamo , CA
With many market participants absent for Thanksgiving, look for rates to stay flat.
Denise McManus
Global Real Estate Advisor, Engel & Voelkers & Senior Lender, Xpert Home Lending, Engel & Voelkers
The rates, although volatile, will remain for the most part flat. We may see minor fluctuations over the next week, but nothing that will dictate a major downward slide. We need another push from the Fed. While the bond market remains fragile, this is our pain point. The good news is, buyer confidence seems to have resurfaced.
Joel Naroff
President and Chief Economist, Naroff Economic Advisors , Holland , PA
Flat. Even the Fed could be on hold now.
James Sahnger
Mortgage Planner, C2 Financial Corporation , Jupiter , FL
With mixed economic data behind us, look for rates to remain relatively unchanged going into a holiday-shortened trading week. Similar to this week though, look for day-to-day volatility.