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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 (Dec. 15 - Dec. 21) the experts say: Mortgage
rates take a breather. |
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PANEL: |
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Down: 25%
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Up:
25% |
Unchanged:
50% |
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| EXPERTS' COMMENTS: |
"I expect rates to remain pretty much where they are for now. While there are some areas where housing has peaked, there is still plenty of demand in place to keep rates steady. There appears to be a lot more in store for the housing markets over the next 10 years."
-- Jason P. Flurry, CFP, Legacy Partners
Financial Group LLC, Woodstock, Ga.
 RATE
VOTE: Unchanged |
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"The big news Tuesday
was not the FOMC's 25 basis point hike but rather the modified announcement
of policy. The Fed indicated that rate hikes would soon end. In
plain English one or (probably) two more hikes and then they will
stop. Equities rallied soon after the announcement, but a Treasury
rally is a more complex event. It would take this announcement that
Fed hikes would soon end and a flat CPI number, on Thursday, to
get a real rally going. With the week-to-week tech indicating the
possibility of a rally, these encouraging words from the Fed, and
lower-than-expected core CPI could actualize a Treasury rally. The
pieces are in place. Core CPI will show the way."
-- Dick Lepre, Residential Pacifc Mortgage
- SF, San Francisco
 RATE
VOTE: Down
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"Trading volume
continues to thin out as we head deeper into the holiday season.
Less liquidity in the markets can create violent swings in pricing."
-- Dan Green, 21st Century Mortgage Bankers, Westmont, Ill.
 RATE
VOTE: Up
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| BANKRATE'S ANALYSTS: |
"Mortgage rates will rise
slowly as the reality of a strong economy and a January Fed hike dawns
on bond investors."
-- Greg McBride, CFA, senior financial analyst,
Bankrate.com
RATE
VOTE: Up
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"The Fed says it will
continue raising short-term rates -- at least once, probably at least
twice. Those short-term rates aren't much lower than long-term rates,
so the longer rates eventually will rise. This will happen sooner
rather than later -- think days and weeks instead of months."
-- Holden Lewis, senior reporter, Bankrate.com
RATE
VOTE: Up
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"Between the Feds anti-inflation
campaign, the lower-than-anticipated retail sales report, the short retail
inventory report and the level that inflation continues to outpace wages,
we should continue to see a steady, but slow climb in almost all interest
rates throughout December and into January."
-- Tony Rand, Mesa Loan Service Inc., Tustin,
Calif.
RATE
VOTE: Up
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"For a short time the rates
should head down over post-Fed relief, but it won't last. Long-term trend
is still up."
-- Brian Peart, president, Nexus Financial group,
Atlanta
RATE
VOTE: Down
• 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.
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