• 14% of participants predict rates will increase
• 57% of participants predict rates will decrease
• 29% 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:

"The lipstick is off the mortgage market pig. Delinquencies push rates higher."

Editor's Note: I answered this week's Bankrate.com survey before the "lipstick off the pig" political dust-up.  It's just a coincidence so don't go hatin'. 

The mortgage market is what it is, regardless of who's calling the shots.  Loan quality doesn't magically improve just because the government is backing the debt.  And besides, that "government guarantee" has already been factored into rates.  It happened instantly at Market Open this past Monday.

Going forward, the mortgage market will trade on the backs of economic, technical, and geopolitical factors -- just like it always did.  Markets are no less likely to suffer the the occasional bloodbath than before the government's takeover.

The hard part is staying on top of it all.

To get short-burst market updates several times per day, follow me on Twitter.  It's free, it's convenient, and you'll be more likely to lock in your mortgage rate when the rates are good, as opposed to being a few minutes too late.