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Mortgage rates remain steady, are expected to stay that way

By Holden Lewis ·
Thursday, April 29, 2010
Posted: 10 am ET

Mortgage rates went nowhere fast this week. The 30-year fixed mortgage declined 1 basis point in this week's survey, to 5.21 percent.

With rates this low, you might think that we would be in for a vigorous homebuying season. But as Chris Kissell notes in this week's mortgage analysis at the above link, lenders aren't so sure that crowds of buyers will show up this spring and summer.

In this week's Rate Trend Index, a majority of voters predict that mortgage rates will remain relatively unchanged (plus or minus 2 basis points) over the next week. A lot of the mortgage experts say a flight to quality has placed a ceiling over bond yields.

I predicted that rates will remain relatively unchanged, and I made the same prediction last week. Turned out to be correct. In the last 52 weeks, I've guessed right 24 times, for a batting average of .462.

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