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Call Dan at 513-443-2020 |Bankrate.com Mortgage Trend Index (December 20, 2007)
Posted on December 20, 2007
Filed under Rate Surveys
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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.
Note: the survey only covers conforming loans. If you are a jumbo, Alt-A, or sub-prime mortgage holder, the survey is not for you. If that's the case, email or call me and we can talk about the specifics of your situation.
Anyway, on to the group's predictions for the next 30-45 days:
- 56% of participants predict rates will increase
- 33% of participants predict rates will decrease
- 18% of participants predict rates will remain unchanged
I am predicting that rates will increase 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:
"Mortgage rates came down last month on recession fears. They'll move up this month on
inflation fears. "
Markets were caught leaning the wrong way on inflation and the adjustments may be painful.
If you are shopping for mortgages, I always recommend that you lock your rate as soon as possible. There is too much downside risk to floating your mortgage by not locking.
Dan Green is an active loan officer. Email or call 513-443-2020. Dan is on Twitter at @mortgagereports.
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