Each week,
Bankrate.com surveys mortgage experts to gauge the state of mortgage
rates over the next 30 to 45 days: Will rates rise, fall or remain
relatively unchanged?
This week (Aug. 26 - Sept. 1) the experts say: Lock
and load, for rates are a'risin.'
PANEL:
Down: 13%
Up:
62%
Unchanged:
25%
The majority -- 62 percent -- of our mortgage experts believe that rates will rise over the next 30 to 45 days. A scant 13 percent predict that rates will drop over that period, and the rest think rates will stay about the same (plus or minus 2 basis points).
"We seem to have leveled
out for now. I expect rates to stay flat or rise from here. It would
be surprising to see them fall any lower given the context of the
current economic backdrop." -- Jason P. Flurry, CFP, LPL Financial,
Planmark Capital Management, LLC, Alpharetta, Ga. RATE
VOTE: Up
"Mortgage rates are slowly
starting upward, however, so slowly. We've been almost flat for several
weeks and it appears this may be the trend through summer." -- Ray Champion, president, ProMortgage
Corporation, Dallas, Texas RATE
VOTE: Unchanged
• Ready to buy? Save money by using our
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BANKRATE'S ANALYSTS:
"A big week of economic
data lies ahead, punctuated by the Sept. 3 employment report. A positive
overtone to the data will underscore continued Fed rate hikes and
will lift long-term interest rates as well." -- Greg McBride, CFA, senior financial analyst,
Bankrate.com RATE
VOTE: Up
"It is possible that mortgage
rates bottomed out a week ago. Rates don't appear to be in any hurry
to rise, but with the Fed gradually raising short-term interest rates,
it doesn't seem that long-term mortgage rates have much room to fall." -- Holden Lewis, senior reporter, Bankrate.com RATE
VOTE: Up
About the Bankrate.com Rate Trend Index
Bankrate.com surveys more than 100 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 each Wednesday. Results from Bankrate.com's Mortgage Rate Trend Index will be released each Thursday.
