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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 (Feb. 1 - Feb. 8) the experts say:
Lock that rate. Rates are on their way up. |
| | PANEL:
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Down: 0%
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Up:
87% |
Unchanged:
13% |
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| EXPERTS' COMMENTS: |
"It looks like mortgage
rates will continue higher since turning up again lately. I don't
expect the rise to be huge, though. In fact, except for a few 'bubble'
markets, I expect real estate will remain relatively strong this year,
so rates should hold fairly steady."
-- Jason P. Flurry, president, Legacy Partners
Financial Group, Woodstock, Ga.
 RATE
VOTE: Up |
"I would lock before the
employment report!"
-- Brian Peart, president, Nexus Financial
Group, Atlanta
RATE
VOTE: Up |
"The last rate bump of
the Greenspan era created a strangely shaped yield curve resembling
a road with a pothole in the middle. This is not an omen but rather
the result of the Fed deliberately raising the short end (up to two-year
duration) while the market, driven by lack of concern about inflation,
continues to drive the long end (10- and 30-year)."
-- Dick Lepre, Residential Pacific Mortgage,
San Francisco
 RATE
VOTE: Unchanged |
"Mortgage rates will continue
upward into spring as we see the results of monetary policy pressure."
-- Ray Champion, president, Pro Mortgage
Corp., Dallas
RATE
VOTE: Up |
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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: |
"With the return of the
30-year bond and continued focus on inflation, mortgage rates have
a little more room to run before taking a breather."
--
Greg McBride, CFA, senior financial analyst, Bankrate.com
RATE
VOTE: Up
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"Inflation accelerated
in the fourth quarter of 2005, and the Fed is hinting that this round
of short-term rate increases is at or near its end. If the bond market
pays attention, it will realize that inflation lurks out there, and
long-term rates will rise accordingly. But I'm not sure the bond market
is listening on the same wavelength."
--
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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