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 (Aug. 7 to Aug. 13) the experts say:
This rate jump will not stand.
PANEL:
Down: 50%
Up:
33%
Unchanged:
17%
Half of our mortgage experts expect rates to drop over the next 30 to 45 days. One-third think rates will rise. The rest predict that rates will stay about the same (plus or minus 2 basis points).
"Right on cue, rates jumped
with the hint of a stronger economy. The movement was predicted, but
I think it has gone too far too soon. Rates will most likely drop
a little over the next couple of weeks, or at least level off for
a while. Unfortunately for those on the fence, the outlook is not
as clear as in the past. I do believe we have already seen the lows
for this cycle, but the ebb and flow of change will still offer opportunities
for some along the way." -- Jason P. Flurry, CFP, LPL Financial,
Planmark Capital Management, LLC, Alpharetta, Ga. RATE
VOTE: Down
"Rates may return to near
historical lows over the next two months due to disappointing economic
news." -- Neil Cribb, president, Mortgage Financial
Network, Safety Harbor, Fla. RATE
VOTE: Down
"Mortgage rates will rise
nationally by 5 to 10 basis points over the next six weeks." -- John K. Bacci, Foundation Financial Advisors
Inc., Linthicum, Md. RATE
VOTE: Up
BANKRATE'S ANALYSTS:
"The past week has marked
the beginning of a more moderate trend toward higher rates. The economic
calendar is very light leading up to Tuesday's Fed meeting, but rates
may be influenced by a large Treasury auction. Rates could suddenly
jump like a spooked horse, so lock on any dips or periods of rate
stability." -- Greg McBride, financial analyst, Bankrate.com RATE
VOTE: Up
"Mortgage rates have hit
an equilibrium point and will move within a fairly narrow range for
a while. They're more likely to rise than fall, if only because they've
been rising since June." -- Holden Lewis, senior reporter, Bankrate.com RATE
VOTE: Up
• Ready to buy? Save money by using our
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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.
