mortgage
Mortgage Rate Trend Index
Will rates rise or remain relatively unchanged? Experts and Bankrate analysts provide their insights.
This week (Aug. 27 – Sept. 2) the experts say: Rates will stay flat. 64 percent of the analysts say rates will remain relatively unchanged (plus or minus 2 basis points). Another 18 percent of the panelists say mortgage rates will rise over the next 35 to 45 days, and 18 percent say rates will fall.
Industry experts and Bankrate commentary
| Experts' comments | Panel |
Rates on 30-year mortgages have really improved the last few weeks despite the continuing strength of the stock market. (Generally speaking, if the stock market is up, mortgages rates rise.) I still expect a correction or a selloff in the stock market in September/October, but given the drop in rates, I don't see them falling much further. I expect mortgages rates to be flat in the coming weeks.
Michael Becker, mortgage consultant, Green Pastures Mortgage & Finance, Lutherville, Md. | 
unchanged |
Demand for dollar-denominated bonds helps rates to ease lower.
Dan Green, Waterstone Mortgage, author of TheMortgageReports.com, Cincinnati | 
down |
Mortgage interest rates continue to trade in a very narrow range, and with little positive economic news on the horizon, they will continue to do so for the foreseeable future. While we do see these attractive interest rates holding, don't get too complacent. Any glimmer of hope, along with a rebounding stock market, will cause rates to become very volatile with little or no warning signs. Remember, only 90 days remaining on the first-time homebuyer tax credit, so meet with your mortgage adviser to position yourself for success today.
David Kuiper, mortgage planner, First Place Bank, Holland, Mich. |
unchanged |
The daily tech is nearing the end of a bull cycle and the weekly is still bullish. Once the daily turns, we should see higher yields for 15 to 20 days. We have a few more days of maybe lower rates, then three weeks of maybe higher rates, but I see no large move. Mortgage professionals and borrowers must start to account for the effect of the enormous projected deficits and the possible inflation that goes with them. People with adjustable-rate mortgages adjusting in the next few years should consider fixing their rates.
Dick Lepre, senior loan officer, Residential Pacific Mortgage, San Francisco |
unchanged |
With the news that the residential housing market is rebounding for the better, along with the reality that there is still plenty of bad news out there -- such as the commercial market -- rates will remain unchanged.
Steve Levitt, vice president of mortgage lending, Guaranteed Rate, Chicago |
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Overall, rates should remain relatively unchanged. However, day to day and perhaps week to week, volatility should remain high. That will create timing issues for locking. It will be imperative to lock when rates work best for you.
Also, do not delay locking until the last minute, as this could create closing issues for you if rates or fees have changed significantly from the rate you were qualified at with new disclosure rules.
Jim Sahnger, mortgage consultant, Palm Beach Financial Network, Stuart, Fla. |
unchanged |
| Bankrate's analysts | Panel |
As the calendar flips to September, mortgage rates will reverse and drift slightly higher.
Greg McBride, senior financial analyst, Bankrate.com | 
up |
About the Bankrate.com Rate Trend Index
Bankrate.com surveys 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 monthly. Results from Bankrate.com's Mortgage Rate Trend Index will be released each Thursday.