20Mar2008
Dan Green
Author
Dan Green
Filed Under
Rate Surveys

Bankrate.com Mortgage Trend Index (March 20, 2008)

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Mortgage rates should be falling, but because of Fannie and Freddie's new risk-based price changes, a lot of mortgage applicants just got jacked for one percent or more.I am a regular participant in the Bankrate.com Mortgage Rate Trend survey and this week's survey is now available. 

As a reminder:

  1. The survey is for conforming loans only.
  2. Your mortgage strategy should be broader than just asking "Where are rates headed?"  If you don't have a mortgage strategy, reach out to me and we'll talk about it.

Anyway, on to the group's predictions for the next 30 days:

  • 64% of participants predict rates will increase
  • 27% of participants predict rates will decrease
  • 9% of participants predict rates will remain unchanged

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:

"Short-term rate cuts are being made at the expense of long-term inflation.  Inflation is the enemy of mortgage rates."

I'm not going to go deeper on that topic because I've already used way too much ink on Federal Reserve-related topics this week.  It's starting to bore me so I can only imagine how much it bores you.

So, in the interest of lightening things up a bit, here are the three safe-for-work videos to which I linked this week.  You may have been too bored to catch them the first time...

  1. How the Philadelphia Phillies are the Foo Fighters of Major League Baseball
  2. Little Mac beating Mike Tyson in Round 1
  3. PoP! Goes My Heart Music Video

Beware Hugh Grant.  That song is infectious.

Dan Green
Author
Dan Green

About the Author

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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