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. 28 - Sept. 4) the experts say:
Rates are going down or remaining steady in September, so you wait a bit
before locking if you need to.
PANEL:
Down: 42%
Up:
16%
Unchanged:
42%
A measly 16 percent of our mortgage experts believe rates will rise over the next 30 to 45 days. The rest are evenly split between those who say rates will fall and those who predict that rates will stay about the same (plus or minus 2 basis points).
"Mortgage rates are still trying
to find their groove again at higher levels, but I think it is all
too soon for it to last. The most likely course over the next couple
of weeks, in my opinion, is a flat to moderately lower drift, with
the longer rates moving the most. In the meantime, R and R is going
to be the main focus for the masses this week, neither of which stands
for "Rates" or "Refinance"!" -- Jason P. Flurry, CFP, LPL Financial,
Planmark Capital Management LLC, Alpharetta, Ga. RATE
VOTE: Down
"I think the recent move
will be digested over the next few weeks, which will be a healthy
development." -- John K. Bacci, Foundation Financial Advisors
Inc., Linthicum, Md. RATE
VOTE: Unchanged
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BANKRATE'S ANALYSTS:
"Upbeat economic data
has been building like water behind a dam, and will start pressuring
mortgage rates higher once again." -- Greg McBride, financial analyst, Bankrate.com RATE
VOTE: Up
"We're still only a percentage
point above the lowest mortgage rates in a generation. Rates are low
by historical standards, and they will continue to rise as the economic
outlook improves." -- 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.
