No one really has this answer, but with everything else in life, people certainly have their opinions. A great place to get a read from a number of experts on which way the rates are headed on a weekly basis is bankrate.com’s Mortgage Rate Trend Index. Each week they pole a panel of industry experts and analysts and tell you what the percentages are that rates will go up, down, or remain unchanged.

I have found this index to be right more often than not!

For the week of January 31st – February 4th, experts had this to say… “This week, a little more than half of the panelists believe mortgage rates will fall over the next 35 to 45 days. Just 9 percent think rates will rise, and the rest believe rates will remain relatively unchanged (plus or minus 2 basis points). Percentages reflect all votes, and not the subset of voters who write comments.”

Up: 9%
Down: 55%
Unchanged: 36%

There is also a list of comments for those that voted, and you can graph the index or have it emailed to you weekly. I hope you find this tool useful as I am many of my clients have in the past.

Best,

Jill