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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.
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:
"Producing goods is cheapening for businesses, and that will lead to a reduction in consumer costs in the coming months. But not this week. Inflation may be contained, but Wall Street is not convinced. Expect rates to trend higher as a result."
Remember: if rates go up and you are locked, you are protected. If rates go down and you are locked, you can (almost always) "float down". Locking mortgage rates guarantees a 100% chance of success in The Rate Game.
Dan Green (NMLS #227607) is an active loan officer with Waterstone Mortgage. Email Dan ator call 513-443-2020.
Bonus: Click to get a free, no-obligation rate quote. I love to work with my readers!
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