07Aug2008
Dan Green
Author
Dan Green
Filed Under
Rate Surveys

Bankrate.com Mortgage Trend Index (August 7, 2008)

Mortgage rates and markets change constantly. Stay 100% current by taking The Mortgage Reports by email each day. Click here to get free email alerts, or subscribe to the RSS feed in your browser.

Bankrate.com rate trend surveyI am a regular participant in the Bankrate.com Mortgage Rate Trend survey and this week's survey is now available.

As a reminder:

  1. The survey is for conforming loans only.
  2. I welcome emails from readers about purchase or refinance plans.
  3. I twitter market updates a few times daily.  Follow me.

Anyway, on to the group's predictions for the next 30 days:

  • 71% of participants predict rates will increase
  • 21% 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:

"Stock markets should benefit from falling commodity prices, pulling money from the mortgage bond market."

Now, silly me, I sent my comments to Bankrate.com before I found this choice nugget, buried on the Fannie Mae Web site.  I still expect rates to increase over the next 30 days, but now I am even more sure -- Fannie Mae raised its loan fees across the board.

Dan Green
Author
Dan Green

About the Author

Dan Green (NMLS #227607) is an active loan officer with Waterstone Mortgage. Email Dan ator click to get a free, no-obligation rate quote.

You can also find Dan on Twitter and Google+.