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?
This week (July 24 - July 30) the experts say:
Rates are more likely to fall or stay the same.
PANEL:
Down: 45%
Up:
22%
Unchanged:
33%
More than three-quarters of our
mortgage experts expect rates to drop or remain unchanged (plus or
minus 2 basis points) over the next 30 to 45 days. The others think
rates will rise.
"After topping
out this week, rates should trend lower for a few weeks before resuming
their upward trend. They won't go back to where they were before,
however." -- Brian Peart, president, Nexus Financial,
Atlanta RATE
VOTE: Down
"Slight improvements
(downward) in mortgage rates as lingering economic concerns diminish
the attraction of equities. Optimism that military spending may begin
to slow in Iraq also helps bond market." -- Neil Cribb, president, Mortgage Financial
Network, Safety Harbor, Fla. RATE
VOTE: Down
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BANKRATE'S ANALYSTS:
"Long-awaited improvement
in corporate earnings and economic fundamentals have bond investors
unwinding positions and yields rising sharply. However, we're not
out of the economic woods just yet and a modest retreat in rates would
certainly materialize if the data disappoints. But the June lows are
a thing of the past and the upward trend will remain in force as the
economy improves." -- Greg McBride, financial analyst, Bankrate.com RATE
VOTE:Up
................................
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.
