Mortgage Rate Trend Index -- Week of Jan. 3

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	Each week, Bankrate.com surveys mortgage experts to gauge the state of mortgage rates over the next 30 to 45 days: Will rates rise, fall or remain relatively unchanged?

Don't lock in This week (Jan. 3 - Jan. 9) the experts say:
Look to lock. Rates have been on an upward trend for almost two months but we'll see dips every so often. Be prepared to lock a rate when the dips occur.

PANEL:	Down: 46%	Up: 16%	Unchanged: 38%

The majority of our expert panelists are expecting mortgage rates to head south this week. If you're in the market for a mortgage, this may be your opportunity.

Graph the trend for mortgages Archive of Rate Trend Index columns

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COMMENTS:
"After going up for the last two months, rates will edge down over the next few weeks due to stock market weakness. Look for rates to resume their rise near the end of the month."
-- Brian Peart, president, Nexus Financial, Atlanta
RATE VOTE: Down

"Uncertainty in market, unemployment rising, lower profits, consumer confidence waning ... rates will go lower by at least 25 basis points and probably another 50 basis points by year's end (2002) if no recovery in sight."
-- Todd Brown, Pinnacle Financial, Hauppauge, N.Y.
RATE VOTE: Down

• Ready to buy? Save money by using our mortgage rate search tables to find the best deal.

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About the Bankrate.com Rate Trend Index
Bankrate.com surveys more than 100 experts in the banking and mortgage fields to see if they believe certificate of deposit and mortgage rates will rise, fall or remain relatively unchanged. For the deposit index, the panel comprises banks, thrifts and credit unions that directly offer FDIC-insured certificates of deposit to the end consumer. For the mortgage index, the panel comprises mortgage bankers, mortgage brokers and other industry experts who provide residential first mortgages to consumers. Results from Bankrate.com's CD Rate Trend Index will be released each Wednesday. Results from Bankrate.com's Mortgage Rate Trend Index will be released each Thursday.

BANKRATE'S ANALYSTS:
"Rates are poised to pull back this week, but this is not the start of a sustainable trend. In fact, it may be rather short-lived. Opportunity knocks for those borrowers waiting to lock."
-- Greg McBride, financial analyst, Bankrate.com

RATE VOTE: Down

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15 yr fixed mtg	4.53%
5/1 ARM	4.21%

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