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 (Nov. 6 - Nov. 12) the experts say:
Mortgage rates are slightly more likely to go up than down, but there is
no strong consensus either way.
PANEL:
Down: 25%
Up:
42%
Unchanged:
33%
Forty-two percent of our panelists believe mortgage rates will rise over the next 30 to 45 days. One-quarter believe rates will fall, and one-third foresee rates remaining about the same (plus or minus 2 basis points).
"Market expectations are
consistent with current market positions. Equity markets seem to
have anticipated recent favorable economic reports. Bond markets
seem to have anticipated Federal Reserve comments. 'Vibration' of
rates around current levels anticipated over next few weeks." -- Neil Cribb, president, Mortgage Financial
Network, Safety Harbor, Fla. RATE
VOTE: Unchanged
"We are through October
and more investors are noticing the run up in stocks. As they join
in, they will be pulling money out of bonds. There will be nothing
but upward pressure on interest rates." -- Jack Harris, Real Estate Center, Texas
A&M, College Station, Texas RATE
VOTE: Up
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BANKRATE'S ANALYSTS:
"Mortgage rates have been
remarkably tame, despite overwhelmingly positive economic news. If
the economy shows strong job growth, mortgage rates could jump in
response." -- Greg McBride, financial analyst, Bankrate.com RATE
VOTE: Up
"I have a hunch that the
employment report for October, to be released Friday, will disappoint
people who expect nonfarm payrolls to have increased by more than
60,000. Rates should be steady or slightly down for the next two weeks
or so, but the upward trend will reassert itself later." -- 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.
