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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.
As a reminder:
Anyway, on to the group's predictions for the next 30 days:
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:
"As the risk premium of Fannie and Freddie's debt increases, mortgage rates follow."
What's risk premium, you ask? It's the extra rate of return that Wall Street requires from a company because investors fear for their money. The chart we showed earlier this week should clarify.
If government debt is considered guaranteed, you'll see, mortgage-backed debt is getting farther and farther away from guaranteed, day by day.
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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