Whether you are elated or deflated from the results of the election, I am sure we are all relieved that it is over. I can admit I have been slightly obsessed with the daily dramas of this political soap opera, but now it’s time to transition to action. So with the Dems awaiting to take control, what is expected for the next 30 days when it comes to San Mateo mortgage rates?
Bankrate.com takes a a weekly survey of financial experts to gauge their feeling of where rates will be headed in the next 30 days. This survey is only on conforming loans and do not apply to Jumbos, FHA or VA loan programs.
Here is what the experts predict:
- 46% Predict Rates will Increase
- 38% Predict Rates will Decrease
- 16% Predict Rates will be Stable
So what does this tell you? Only that more than 80% feel there will be some sort of movement up or down with San Mateo mortgage rates. I say, expect more of the same. Rates will still be volatile until we really have some true stabilization in the economy. I don’t see a huge swing in rates, but I think the roller coaster ride will continue. Just like the numbers above, these are only predictions of where rates may go in the next 30 days. Only you accompanied by some insight from your mortgage advisor can determine if now is the time to lock your rate or let it float.
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Chris Williamson is a Mortgage Advisor with Mortgage California specializing in San Mateo Mortgage.
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