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. 25 - Dec. 31) the experts say:
Let the rate lock float. A solid majority of the experts believes that mortgage
rates will either be flat or fall, although about a quarter expects rising
rates to prevail.
PANEL:
Down: 38%
Up:
24%
Unchanged:
38%
Seventy-six percent of our panelists
believe that mortgage rates will fall or remain about the same (plus
or minus 2 basis points) over the next 30 to 45 days. The rest believe
rates will rise.
"Rates to remain at current
historically low level through February, barring terrorist shocks.
Strong economic recovery with no inflationary pressure will aid the
Federal Reserve in maintaining low rates until midyear." -- Neil Cribb, president, Mortgage Financial
Network, Safety Harbor, Fla. RATE
VOTE: Unchanged
"Retail sales will be
on the low end of forecasts. Inflation is still subdued. Job recovery
is minimal. Look for the 10-year note to test the low 4s before either
breaking through or bouncing to 4.25 percent by the end of January." -- Todd Brown, executive vice president,
Pinnacle Financial, Melville, N.Y. RATE
VOTE: Down
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BANKRATE'S ANALYSTS:
"Mortgage rates are unlikely
to post any sharp moves during the holiday season. Rates will hover
near the 6-percent mark during January." -- Greg McBride, financial analyst, Bankrate.com RATE
VOTE: Up
"With inflation subdued
for now, and the economy creating jobs at around the same rate that
the workforce grows, mortgage rates will remain about the same." -- Holden Lewis, senior reporter, Bankrate.com RATE
VOTE: Unchanged
................................
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.
