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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 Federal Reserve is creatively finding ways to spur the economy forward while keeping inflation in check. Mortgage rates should improve as a result."
The Federal Open Market Committee meets next week and there's a 70 percent chance that the Fed Funds Rate will fall by a quarter-percent. This does not mean that mortgage rates will fall by 0.250%, of course.
We've covered that point quite a bit.
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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