Bankrate.com Mortgage Trend Index (April 24, 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:

1. The survey is for conforming loans only.
2. Asking "Where are rates headed?" is not strategy -- it's a gamble.  Reach out to me directly if you'd like expert help on your mortgage plans.

Anyway, on to the group's predictions for the next 30 days:

• 46% of participants predict rates will increase
• 27% of participants predict rates will decrease 
• 27% 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:

"The Federal Reserve is creatively finding ways to spur the economy forward while keeping inflation in check. Mortgage rates should improve as a result."

The Federal Open Market Committee meets next week and there's a 70 percent chance that the Fed Funds Rate will fall by a quarter-percent.  This does not mean that mortgage rates will fall by 0.250%, of course. 

We've covered that point quite a bit.

• 46% of participants predict rates will increase
• 27% of participants predict rates will decrease 
• 27% 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:

"The Federal Reserve is creatively finding ways to spur the economy forward while keeping inflation in check. Mortgage rates should improve as a result."

The Federal Open Market Committee meets next week and there's a 70 percent chance that the Fed Funds Rate will fall by a quarter-percent.  This does not mean that mortgage rates will fall by 0.250%, of course. 

We've covered that point quite a bit.