Expert poll: Mortgage rate trend predictions for Nov. 14 - 20, 2024
Written by
| Go up | 33% |
|---|---|
| Stay the same | 33% |
| Go down | 33% |
Where rates are headed next week is anyone’s guess. Bankrate’s rate watchers are split evenly on where rates are headed next week.
Thirty-three percent of respondents expect rates to go up in the next week, 33 percent expect rates to drop and the remaining 33 percent predict rates will stay flat.
The average 30-year fixed rate was 7.00 percent as of Nov. 13, according to Bankrate’s national survey of large lenders, the same as last week.
Estimate your monthly mortgage payment based on current rates using this calculator.
Rate Trend Index
Experts predict where mortgage rates are headed
Week of Nov. 14 - 20, 2024
| Go up | 33% |
|---|---|
| Stay the same | 33% |
| Go down | 33% |
Look for [the] 30-year fixed to remain at 7.0 percent. The Fed is more concerned about inflation than it is about short-term Treasurys, which are what mortgage rates follow.
— Dick Lepre, Realfinity Mortgage
33% say rates will go up
Melissa Cohn
Regional Vice President, William Raveis Mortgage
Mortgage rates will continue to rise as the markets continue to assess what Mr. Trump’s policies will mean for the economy. His proposed tariffs, immigration policy and tax cuts are inflationary and as such will cause mortgage rates to remain high and potentially go higher. With the Republican Party likely to win the house, it will be easier for Mr. Trump’s policies to be enacted quickly and keep rates at their high levels. At some point, these high rates will dampen the economy and we will hope for lower rates when that happens.ving higher. Trump’s win last night means more tariffs, and they are inflationary. Higher inflation will also cause the Fed to pause its rate-cutting cycle, and rates in general are going to be higher.
Nancy Vanden Houton, CFA
Senior Research Analyst, Stone & McCarthy Research Associates , New York , NY
Higher.
Bennie Waller
William Cary Hulsey Fellow, Culverhouse College of Business, University of Alabama
Mortgage rates ease upward as capital markets reach new highs and debt markets move upward.
33% say rates will go down
Michael Becker
Branch Manager, Sierra Pacific Mortgage , White Marsh , MD
Today’s CPI report came in at expectations with headline inflation at 2.6 percent year-over-year and core inflation at 3.3 percent. These are still higher than the Fed would like, but it is the shelter component of CPI that is the reason inflation is above the Fed’s preferred level. Without shelter, core inflation would be at 2.1 percent and headline inflation would be at 1.3 percent. But after initially rallying bonds have been selling off. I think markets are still trying to figure out how a Trump administration and Republican congress will affect the economy and inflation. I think this concern about future inflation will subside and we will have lower mortgage rates in the coming week.
Heather Devoto
Vice President, Branch Manager, First Home Mortgage , McLean , VA
I’m expecting rates to be volatile but to edge a bit lower in the week ahead as traders continue to react to the new economic policies of the Trump administration.
Les Parker, CMB
Managing Director, Transformational Mortgage Solutions , Jacksonville , FL
Mortgage rates will go down. The trend to higher rates remains intact. However, expect a decline this week from falling inflation, sinking oil prices and a faltering China.
33% say unchanged–
Dick Lepre
Senior Loan Officer, Realfinity , Alamo , CA
Trend: Flat. Look for [the] 30-year fixed to remain at 7.0 percent. The Fed is more concerned about inflation than it is about short-term Treasurys, which are what mortgage rates follow.
Joel Naroff
President and Chief Economist, Naroff Economic Advisors , Holland , PA
Flat. It’s unclear who will be running economic policy.
James Sahnger
Mortgage Planner, C2 Financial Corporation , Jupiter , FL
Like last week, the markets are still trying to figure out where they are going following the election and the Fed’s decision to cut Fed Funds by 25 basis points. We’ve had a lot of volatility intraday and day-to-day. Look for that to continue. While I believe that rates short-term are going to be relatively unchanged, since Sept. 18, we have definitely been in an upward trend.