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. 21 to Aug. 27) there is no consensus
from the experts on the direction of mortgage rates, except that much hinges
on upcoming economic reports. Good economic news will be bad for rates.
Watch the rates closely, and lock on the dips.
PANEL:
Down: 36%
Up:
36%
Unchanged:
28%
Our mortgage experts are evenly
divided on whether rates will go up or down over the next 30 to 45
days, with each side of that argument gathering 36 percent of the
vote. The other 28 percent are think rates will stay about the same
(plus or minus 2 basis points).
"Rates have risen quickly
in the past month. I feel like a little correction is in order. My
outlook is for rates to come down some in the next few weeks and then
trend slowly higher into next year. Economic news will continue to
be the catalyst for change, but don't expect to see the lows again
in this cycle." -- Jason P. Flurry, CFP, LPL Financial,
Planmark Capital Management, LLC, Alpharetta, Ga. RATE
VOTE: Down
"We are looking for a
slight increase in mortgage rates over the next 45 days as assets
continue their shift into equities." -- John K. Bacci, Foundation Financial Advisors
Inc., Linthicum, Md. RATE
VOTE: Up
• Ready to buy? Save money by using our
mortgage
rate search tables to find the best deal.
BANKRATE'S ANALYSTS:
"Mortgage rates continue to fluctuate within
an established range, with 10-year Treasury yields staying between
4.3 percent and 4.6 percent. External factors such as fears of terrorism
are a permanent asterisk to any forecast, but strengthening economic
fundamentals will begin to push rates higher." -- Greg McBride, financial analyst, Bankrate.com RATE
VOTE: Up
"Mortgage rates are rising
like a tide, and you can't push back the tide." -- Holden Lewis, senior reporter, 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.
