Mortgage Rates: Don't Try Timing Them

When I first got into the real estate industry, there were a few benchmark economic reports that clearly influenced the direction of mortgage rates. Today things are not so simple.

The velocity of capital in the financial markets runs at warp speed and so does change to underlying markets, including mortgage rates. Headline risk, the risk that news headlines will impact rates, also plays a significant role, further influencing markets and mortgage rates with volatility.

Thus predicting the future of mortgage rates has become an exercise in futility -- more of a guessing game than refined economic analysis. You don't have to take my word for it: Just ask the so-called experts.