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 (Jan. 15 - Jan. 21) the experts say:
Mortgage rates could drop still further.
PANEL:
Down: 50%
Up:
20%
Unchanged:
30%
Half our panelists believe that mortgage rates will drop over the next 30 to 45 days. Thirty percent think rates will remain about the same (plus or minus 2 basis points) during that period. The rest predict that rates will rise.
"It appears that rates
are stuck in a wait-and-see mode for now. I expect we will see a fairly
tight range for most rates for the foreseeable future." -- Jason P. Flurry, CFP, LPL Financial,
Planmark Capital Management, LLC, Alpharetta, Ga. RATE
VOTE: Unchanged
"Yes! Even lower rates
ahead! Softening markets in Europe will restore the U.S. as a 'safe
haven' market. Slight deflationary pressure will support low rates
through mid-year." -- Neil Cribb, president, Mortgage Financial
Network, Safety Harbor, Fla. RATE
VOTE: Down
• Ready to buy? Save money by using our
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BANKRATE'S ANALYSTS:
"A job hunter's misery
is a mortgage hunter's glory. Anemic job growth has pushed long-term
rates lower, and is keeping the Fed from any thoughts of boosting
rates. Lock now before rates rebound on other, more positive, economic
indicators." -- Greg McBride, financial analyst, Bankrate.com RATE
VOTE: Up
"The disappointing employment
report for December will reverberate through the markets for weeks.
The economy just isn't creating jobs. Until it does, inflation and
interest rates will remain low." -- Holden Lewis, 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.
