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Call Dan at 513-443-2020 |Bankrate.com Mortgage Trend Index (March 13, 2008)
Posted on March 13, 2008
Filed under Rate Surveys
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Thanks for visiting The Mortgage Reports. To stay absolutely current on mortgage markets and important guideline changes, be sure to take my free daily email alerts.
I am a regular participant in the Bankrate.com Mortgage Rate Trend survey and this week's survey is now available.
As a reminder:
- The survey is for conforming loans only
- Your mortgage strategy should consist of something more than just asking "Where are rates headed?" If you don't already have a mortgage plan, reach out to me and I can help you make one.
Anyway, on to the group's predictions for the next 30 days:
- 22% of participants predict rates will increase
- 44% of participants predict rates will decrease
- 34% 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 should be falling, but because of Fannie and Freddie's new risk-based price changes, most mortgage applicants are about to get jacked by one percent increases or more."
I haven't written about this yet but you can read the official announcement -- it's rife with mumbo-jumbo. Reach out if you'd like some clarification.
Dan Green is an active loan officer. Email or call 513-443-2020. Dan is on Twitter at @mortgagereports.
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