Archive for the ‘Mortgage Backed Bonds’ tag
Bankrate.com Mortgage Trend Index (July 10, 2008)
I am a regular participant in the Bankrate.com Mortgage Rate Trend survey and this week’s survey is now available.
As a reminder:
- The survey is for conforming loans only.
- I welcome emails from readers about purchase or refinance plans.
- I twitter market updates a few times daily. Follow me, if you want.
Anyway, on to the group’s predictions for the next 30 days:
- 31% of participants predict rates will increase
- 46% of participants predict rates will decrease
- 23% of participants predict rates will remain unchanged
I am predicting that rates will decrease over the next 30 days, but that doesn’t mean you should necessarily follow my advice when choosing whether to lock a rate, or float it. My advice may not be appropriate for your individual situation.
From the Bankrate.com survey:
"When the Federal Reserve implies a guarantee of mortgage-backed bonds, interest rates are sure to fall."
My expectations for mortgages rates right now are an extension of a post earlier this week, which then turned into a brief radio interview.
I’ve been using Twitter to communicate the mid-day market shifts to clients. It’s simple to set up and completely non-intrusive. You’re welcome to follow me if you’d like the updates, too.