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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.
Note: the survey only covers conforming loans. If you are a jumbo, Alt-A, or sub-prime mortgage holder, the survey is not for you. If that's the case, email or call me and we can talk about the specifics of your situation.
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:
"Yes, we're in a recession. Yes, we're facing inflation. Mortgage rates: revolt!"
On the fence about locking or floating your mortgage rate? Try this little test to see if your emotional thoughts out-muscle your rational ones
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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