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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:
"Until oil prices fall, speculators will draw money from mortgage bonds. This should pressure mortgage rates higher."
It's been ugly this week. Markets unwound six weeks of rate improvements in 72 hours. Today, it's unwinding further.
I've been using Twitter as a way to communicate the market shifts to clients. My tweets tell them when rates are likely to change so they can be more pro-active about their finances.
Twitter's simple to set up and it's 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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