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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 30-45 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:
"Fannie and Freddie are charging higher loan delivery fees to mortgage lenders who are, in turn, charging those fees to borrowers."
And it's not just the blanket 0.25% fee, either. There's dramatic hits for certain mortgage borrowers with credit scores below 680, too.
If you are shopping for mortgages, I always recommend that you lock your rate as soon as possible. There is too much downside risk to floating your mortgage by not locking.
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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