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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.
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 tail will wag the dog as we head into the New Year. Despite the Fed's comments to the contrary, traders are planning for an economic slowdown and that will push down mortgage rates."
If you are shopping for mortgages, I always recommend that you lock your rate as soon as possible. But, if you're not convinced, take this little test to gauge your risk tolerance.
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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