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Rates rise and RTI voters say they’ll stay there

By Holden Lewis ·
Thursday, July 15, 2010
Posted: 9 am ET

Mortgage rates edged higher this week, with the 30-year fixed rising to its third-lowest rate ever in the 25-year history of Bankrate's weekly survey.

Yeah, that sounds kinda strange. In the previous two weeks, we recorded the lowest rates on the 30-year fixed in the company's quarter-century history. This week, the mortgage rate went up, but only to the third-lowest level ever. As I noted in the mortgage analysis, hardly anyone is getting a loan anyway.

In this week's Rate Trend Index, a majority of voters say rates will remain relatively unchanged (plus or minus 2 basis points) a week from now. I say they'll rise.

On the Rate Trend Index, I have been wrong seven weeks in a row. Last week, I said rates would fall. They rose. The last time I guessed right was May 19. I've been correct 18 times in the last 52 weeks, for a .346 batting average.

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