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I am a regular participant in the Bankrate.com Mortgage Rate Trend survey and this week's survey is now available.
I am predicting that rates will remained unchanged over the next 30 days, but that doesn't mean you should necessarily follow my advice when choosing whether to lock a rate, or float it. My advice may not be appropriate for your individual situation.
From the Bankrate.com survey:
"For six weeks, the market believed two things: 1) Inflation is contained, and 2) the Fed is done raising rates. The market's opinions appear to have become a self-fulfilling prophecy."
If you shopping for mortgages, I recommend that you go ahead and lock in your rate. There is just too much financial risk in floating a mortgage interest rate -- especially given the volatile nature of the markets.
Not sure if locking is for you? Take this little test.
Dan Green (NMLS #227607) is an active loan officer with Waterstone Mortgage. Email Dan ator click to get a free, no-obligation rate quote.
You can also find Dan on Twitter and Google+.
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