Short Term Future of Interest Rates

The Mortgage Rate Trend Survey which is a survey done by Mortgage-X Mortgage Information Services, surveys and summarizes where mortgage professionals think mortgage rates are going in the short term. To conduct this survey, Mortgage-X asked more than 250 experts in the mortgage field each Monday about their expectations for the mortgage market.

If you are trying to decide whether you want to hold on a home bid, or have a contract on a home and are not sure if you would like to float or lock your rate, maybe this will help. (click on the "float" hyperlink to see a great definition from www.moving.com above.
Here are the findings for what experts forecast Home Loan Interest Rates for the next 30 days:
6.9% said rates would rise significantly
34.5% said rates will rise slightly
41.4% said rates would ultimately remain unchanged
17.2$ said rates will decline slightly
0% forecasted a better of rates in significant amounts
Here are the findings for what experts forecast Home Loan Interest Rates for the next 90 days:
6.9% said rates would rise significantly
44.8% said rates will rise slightly
27.6% said rates would ultimately remain unchanged
20.7$ said rates will decline slightly
0% forecasted a better of rates in significant amounts


Mortgage-X concluded and summarized that, "about 41% of the participating mortgage professionals believe mortgage rates will remain unchanged over the next 30 days and 45% believe mortgage rates will rise slightly over the next 90 days".

Enjoy your weekend and for what my opinion is worth, gambling in this mortgage market for best interest rates is not a great strategy unless market signs show obvious directions at some point...they haven't but one or two times in recent months. In my opinion, if you are gambling on a rate and are active in a purchase transaction with a 30 day escrow or less, you are probably gambling because you have that personality type (conservative vs aggressive/liberal)and need to "play the game" so you feel like you played a roll in the future of your mortgage strategy, or you may have not been educated or advised by the right Mortgage Consultant to make a different decision. I'm a conservative, so there is a chance that thousands who read this might jump up and down all over this theory. It's my theory, and I'm sticking to it. Rates have been so volatile in recent months, even experts' gambles are more like playing darts with their eyes closed in my opinion. Have a Great weekend, and "gamble lightly so you can afford to gamble another day".