Mortgage rates are going to ...... there gonna..... I really think....honestly I am simply baffled with the low level interest rates are currently. I thought rate would be near the 8% range by now. It is just what the cycle does. Rates had been low for a while. The correction has got to be coming....

     For years I was the go to guy in the office. I would get phone calls from loan officers all over asking me that question -  should I lock or float??  I was that good at predicting movement. In the past few months I have been wrong many times. In today's mortgage lending environment rates could have major swings within the same day!

The big relief plan being ironed out this weekend by government leaders will have a big impact on mortgage rates by Monday morning I would assume. Which way rates are impacted is the big question! The goal is to open up money to the economy, specifically in the beaten up mortgage industry. I have not completed any real conclusions as to where rates are headed. I just can't convince myself either way. I would think I am like many others who are just taking a wait and see approach in this every changing whirlwind.

In the not so distant past a few things were a lock. My rule of thumb was this -- Bad news for the economy would have investors buying treasuries which in turn forced mortgage rates down. I have since thrown that proven method out the window.

Any predications where rates are headed next week? next month? Next six months?

                                            Maryland FHA Expert