Mortgages Blog

Finance Blogs » Mortgages » This week’s mortgage rates and predictions

This week’s mortgage rates and predictions

By Holden Lewis · Bankrate.com
Thursday, May 27, 2010
Posted: 11 am ET

Mortgage rates fell again to their lowest levels since Bankrate began its weekly rate surveys in 1985. This week, the 30-year fixed averaged 4.92 percent.

The survey is conducted on Wednesdays. So far today, there has been upward pressure on mortgage rates. Mortgage bond yields are at their highest in 10 days, which isn't saying much. They're still extraordinarily low.

This week's Mortgage Rate Trend Index is reformatted. It's more useful and looks much better. A plurality of RTI voters say rates will be relatively unchanged (plus or minus 2 basis points) in a week. About three-eights of the voters predict rates will rise, and I am in the minority who think rates will drop. Yet I still think you should lock your rate as soon as you can.

As for my nonstellar RTI voting record, I've guessed right in 23 of the last 52 weeks, for a batting average of .442.

Related posts:

  1. Price relief bodes well for mortgage rates
  2. Mortgage rates remain steady, are expected to stay that way
  3. Mortgage rates fall to record low
  4. Mortgage rates fall again
  5. Jobs report might help mortgage rates
«
»
Bankrate wants to hear from you and encourages comments. We ask that you stay on topic, respect other people's opinions, and avoid profanity, offensive statements, and illegal content. Please keep in mind that we reserve the right to (but are not obligated to) edit or delete your comments. Please avoid posting private or confidential information, and also keep in mind that anything you post may be disclosed, published, transmitted or reused.

By submitting a post, you agree to be bound by Bankrate's terms of use. Please refer to Bankrate's privacy policy for more information regarding Bankrate's privacy practices.
Mortgage Rates
High Yield CD and MMA Rates
Other Rates