Mortgage Rate Trend Index
Will rates go up, down or remain unchanged?
Rates are at near historic lows this week and at levels that they have not been able to hold for extended periods of time. Look for rates to rise a bit even though concerns continue regarding overseas economic issues. There's no real upside to floating as the risk for higher rates significantly outweighs the opportunity for them to fall.Jim Sahnger, mortgage consultant, Palm Beach Financial Network, Stuart, Fla.
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.