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 (Sept. 18 - Sept. 24) the experts say:
Rates are more likely to drop or remain unchanged than to rise.
PANEL:
Down: 36%
Up:
28%
Unchanged:
36%
Thirty-six percent of panelists predict that rates will drop over the next 30 to 45 days, and another 36 percent think rates will stay about the same (plus or minus 2 basis points). The rest believe that rates will rise.
"No action by the Fed and
bonds are looking stronger. Maybe rates will come down." -- Jim Bradley, president, American Residential
Lending, Atlanta RATE
VOTE: Down
"Has everyone forgotten
that unemployment is still very high? With no new jobs in the near
future, rates might dip lower." -- Todd Brown, executive vice president,
Pinnacle Financial, Melville, N.Y. RATE
VOTE: Unchanged
"Rates still need to cool
off a bit. I don't expect any major moves, I would look to take advantage
of the ebb and flow rates offer over the next several weeks. We've
probably seen the best, but at these levels good deals can still be
found." -- Jason P. Flurry, CFP, LPL Financial,
Planmark Capital Management, LLC, Alpharetta, Ga. RATE
VOTE: Down
BANKRATE'S ANALYSTS:
"Consistent economic improvement,
ballooning federal budget deficits, and concern about the declining
dollar are all bad news for bonds. Bond yields and mortgage rates
still seem unsustainably low, and a quick jump seems inevitable. The
timing, however, is unpredictable." -- Greg McBride, financial analyst, Bankrate.com RATE
VOTE: Up
"Despite shaky evidence,
I believe that the economy is expanding. Rates will have their ups
and downs, but the long-term trend is upward." -- 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.
