Mortgage rates have been bouncing around record lows, but how long will they be this good?
Yogi Berra noted that "it's tough to make predictions, especially about the future." However, we still like to try. This week, LendingTree.com's Chief Economist took a stab at calling rates.
According to Cameron Findlay, slow economic growth means "borrowers can expect mortgage rates to remain low." Somebody affiliated with a lending service would have an incentive to say the opposite if possible - hoping to get borrowers to move fast and close loans. However, Findlay's call suggests that even LendingTree expects a long, slow slog out of the recession.
For savers and the unemployed, let's hope things move more quickly. Either way, consider this information if you're being rushed into closing a loan. All we know for now is that plenty of smart people disagree about the economy - so do whatever your needs dictate. Trying to time things rarely works perfectly.
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