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| 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? |
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This week (Nov. 17 - Nov. 23) the experts say: Don't
expect rates to drop. |
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PANEL: |
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Down: 0%
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Up:
50% |
Unchanged:
50% |
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| EXPERTS' COMMENTS: |
"The trend
is still up!"
-- Brian Peart, president, Nexus Financial,
Atlanta
 RATE
VOTE: Up |
"With home
building and resales of existing homes slowing, mortgage interest
should remain stable through the end of the year."
-- Ray Champion, president, Pro Mortgage
Corp., Dallas
 RATE
VOTE: Unchanged |
"The techs keep preaching
that we should have a bullish break (lower rates for a couple of weeks)
but the market acts like a stubborn puppy and just won't move. The
cold fact is that participants expect two to three more Fed hikes
in the next few months. That would indicate a Fed funds rate of 4.75
percent, prime at 7.75 pecent and, if CPI stays tame, a flat yield
curve. The Fed's slow and deliberate move is making any counter-cyclic
moves (the bullish week-to-week tech) in a bearish, secular market
quite painful. We are still due for a modest, brief bullish movement
(lower yields) but in the context of an overall bearish market. In
short, a brief break and then another knife in the back."
-- Dick Lepre, Residential Pacific Mortgage
- SF, San Francisco
RATE
VOTE: Unchanged |
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• Ready to buy? Save money by using our
mortgage
rate search tables to find the best deal.
|
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| BANKRATE'S ANALYSTS: |
"Moderating inflation
will keep mortgage rates from rising above current levels by year-end."
-- Greg McBride, CFA, senior financial analyst,
Bankrate.com
RATE
VOTE: Unchanged
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"I don't think inflation
will moderate. Retail sales are strong, keeping prices up. I have
a hunch that the benchmark 30-year rate will end the year around 6.5
percent -- around an eighth of a point higher than now."
-- Holden Lewis, senior reporter, Bankrate.com
RATE
VOTE: Up
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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.
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