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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:
Here are 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:
"Another round of 'the worst is over' remarks pushes investors back into stocks. Those gains come at the expense of bonds."
Even if rates fall, though, most homeowners can't take advantage. Remortgaging is getting cost-prohibitive because of risk-based fees from Fannie and Freddie. Woe to the homeowner will less than 740 credit scores.
I'll say it again: When it comes to credit scoring, 740 is the new 680.
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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