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Call Dan at 513-443-2020 |Bankrate.com Mortgage Trend Index (April 24, 2008)
Posted on April 24, 2008
Filed under Rate Surveys
Read the complete post
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.
- Asking "Where are rates headed?" is not strategy -- it's a gamble. Reach out to me directly if you'd like expert help on your mortgage plans.
Anyway, on to the group's predictions for the next 30 days:
- 46% of participants predict rates will increase
- 27% of participants predict rates will decrease
- 27% of participants predict rates will remain unchanged
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 Federal Reserve is creatively finding ways to spur the economy forward while keeping inflation in check. Mortgage rates should improve as a result."
The Federal Open Market Committee meets next week and there's a 70 percent chance that the Fed Funds Rate will fall by a quarter-percent. This does not mean that mortgage rates will fall by 0.250%, of course.
We've covered that point quite a bit.
Dan Green is an active loan officer. Email or call 513-443-2020. Dan is on Twitter at @mortgagereports.
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