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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:
"Evidence of an economic recovery leads the U.S. Dollar higher and that should be good for mortgage-backed bonds."
The supposed economic recovery is an odd thing. A lot of people are saying the recession is over, but many more are saying there was no evidence that we were ever in a recession to begin with. Either way, sentiment is shifting and should be good for rate shoppers and home buyers.
As a famous songwriter put it: "The good old days weren't always good and tomorrow ain't as bad as it seems."
Keep the faith, kids. Brighter mortgage days are coming.
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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