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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 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 U.S. government -- on purpose or not -- upgraded mortgage bonds to Treasury Class. Mortgage rates fall."
However! No matter what the government does to prop up Fannie Mae and Freddie Mac, inflation remains as worrisome to mortgage markets as Captain Hammer is to Dr. Horrible. Extra-hot inflation figures have pushed mortgage rates up by 0.250 percent since Tuesday.
I've been using Twitter to communicate the mid-day market shifts to clients and there's been a lot of them. It's simple to set up and completely non-intrusive. You're welcome to follow me if you'd like the updates, too.
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+.
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