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Call Dan at 513-443-2020 |Bankrate.com Mortgage Trend Index (March 20, 2008)
Posted on March 20, 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 be broader than just asking "Where are rates headed?" If you don't have a mortgage strategy, reach out to me and we'll talk about it.
Anyway, on to the group's predictions for the next 30 days:
- 64% of participants predict rates will increase
- 27% of participants predict rates will decrease
- 9% 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:
"Short-term rate cuts are being made at the expense of long-term inflation. Inflation is the enemy of mortgage rates."
I'm not going to go deeper on that topic because I've already used way too much ink on Federal Reserve-related topics this week. It's starting to bore me so I can only imagine how much it bores you.
So, in the interest of lightening things up a bit, here are the three safe-for-work videos to which I linked this week. You may have been too bored to catch them the first time...
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How the Philadelphia Phillies are the Foo Fighters of Major League Baseball
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Little Mac beating Mike Tyson in Round 1
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PoP! Goes My Heart Music Video
Beware Hugh Grant. That song is infectious.
Dan Green is an active loan officer. Email or call 513-443-2020. Dan is on Twitter at @mortgagereports.
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