Live Rate Quotes No social security number required
Real Estate Chart of the Day
Welcome to my blog. I'm glad you're here. Get notified by email when I write something new on The Mortgage Reports. Click here for free email alerts or subscribe to the RSS feed in your browser.
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 decrease 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:
"The three leading news stories this week are: 1) high gas prices, 2) bombings in India and 3) North Korea and Iran disarmament plans. All three events place downward pressure on mortgage interest rates. After three weeks of being pushed to the back burner, geopolitics is back in vogue, and mortgage rates will drop as a result."
Bankrate.com asks for my opinions a few days in advance of publishing, so it's worth noting that in the past 24 hours, Israel has been under attack, oil prices have reached all-time highs, and India has been bombed. Trifecta.
If you are currently on the fence about locking and the idea of floating makes you nervous, I'd say that you go ahead and lock in. There is just too much financial risk in floating -- especially given the volatile nature of mortgage interest rates.
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+.
Since you have reached the end of this post, you may be interested in checking out the related posts below.
