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. 18 - Dec. 24) the experts say:
Ordinarily when a majority of experts expect no change in mortgage rates,
we'd recommend you float your rate lock. However, this week it's too close
to call. No one expects rates to drop -- a change from last week when 20
percent predicted rates would fall -- and 43 percent expect rates to rise,
which would argue for locking.
PANEL:
Down: 0%
Up:
43%
Unchanged:
57%
Fifty-seven percent of our panelists believe that mortgage rates will remain about the same (plus or minus 2 basis points) over the next 30 to 45 days. The rest believe rates will rise.
"No inflation, no inflation.
No job growth, no job growth. No inflation, no job growth -- no rise
in rates. Until we get on real solid ground, look for everything to
start going sideways." -- Todd Brown, executive vice president,
Pinnacle Financial, Melville, N.Y. RATE
VOTE: Unchanged
"Mortgage rates are certainly
ready for the holidays. After a trip to Target last night, I now know
where everyone is! I expect rates to decline between now and the end
of the holiday season, but not by 2 basis points." -- Ray Champion, president, Pro Mortgage
Corporation, Dallas RATE
VOTE: Unchanged
• Ready to buy? Save money by using our
mortgage
rate search tables to find the best deal.
BANKRATE'S ANALYSTS:
"This poll gauges the
direction of mortgage rates over the next 30-45 days, a period that
encompasses a full cycle of economic data and the next Fed meeting.
With continued economic progress, mortgage rates are more likely to
be above 6 percent, rather than below, by then." -- Greg McBride, financial analyst, Bankrate.com RATE
VOTE: Up
"Mortgage rates have their
comfort zone, and that zone is right around 6 percent, give or take
10 basis points." -- 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.
