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 (Dec. 4 - Dec. 10) the experts say:
Rates are more likely to go up than down.
PANEL:
Down: 18%
Up:
45%
Unchanged:
37%
About 45 percent of our panelists believe that mortgage rates will rise over the next 30 to 45 days. Just 18 percent predict that rates will fall, and the rest think rates will remain about the same (plus or minus 2 basis points).
"The markets are beginning
to bet that the economy is entering a period of sustained growth.
We are still skeptical. We attribute the majority of recent economic
data that seemingly supports strong future economic growth to recent
tax cuts and higher defense spending. In reality, prices for most
goods remain flat, indicating that producers have no power to raise
prices." -- Phil Schneider, president, Dallas Mortgage
Associates, Dallas RATE
VOTE: Unchanged
"The economy is feeling
a bit jiggy with the good employment numbers and early retail reports
recently. Rates will most likely start to anticipate better days and
rise gradually in the coming months. Do your holiday shopping and
rate shopping now before the good deals are gone." -- Jason P. Flurry, CFP, LPL Financial,
Planmark Capital Management, LLC, Alpharetta, Ga. RATE
VOTE: Up
BANKRATE'S ANALYSTS:
"The risk of rising mortgage
rates remains despite jawboning efforts aimed at the contrary. Sooner
or later, the Fed will change its tune and mortgage rates will have
to reflect economic reality. The past week has provided a glimpse
of this." -- Greg McBride, financial analyst, Bankrate.com RATE
VOTE: Up
"The economy has been
sending positive signals for months, but mortgage rates haven't gotten
the message. Rates are about where they were a year ago, even though
the economic outlook is stronger now. Rates on 30-year, fixed-rate
mortgages will settle in the 6 to 6.1 percent range for a while." -- Holden Lewis, senior reporter, Bankrate.com RATE
VOTE: Unchanged
• Ready to buy? Save money by using our
mortgage
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.
