Rate projection for April 17-23rd

By
Mortgage and Lending with Movement Mortgage NMLS # 536153
Yesterday the market was not for the faint at heart, but pricing remained almost unchanged from the prior day.  As the week trend is viewed, rates increased by about .25 to rate.    Here's a prediction for the next week.  So quick pre-qualification and timely locking of the rate is essential for borrowers if debt ratio is of concern.

 

April 17 - April 23
This week, nearly half of the panelists believe mortgage rates will rise over the next 35 to 45 days. The rest are split evenly among those who think rates will fall and those who believe rates will remain relatively unchanged (plus or minus 2 basis points).

 

Panel:
Up:
46%
Down:
27%
Unchanged:
27%
Source: Bankrate.com

 

  Have a successful weekend and remember, in today's market, there are still ways to qualify borrowers who are outside the standard box.  It's a cooperative approach from broker/banker, real estate agent, and borrower that gets them to the closing table.

 

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