Mortgage & Loan: The Rate Rollercoaster

t's funny to do one of these entries at the end of the week and see who guessed what right, and who was off the mark. Case in point: mortgage rates. On Thursday, Bankrate reported that rates were back at 6.32 percent after flirting briefly with 6.31 percent. They said this with the confident authority of those who've watched the market for some time and can predict its ebbs and flows.

The very next day, Freddie Mac stated that the 30-year fixed was up to 6.33 percent. So much for certainty, eh?

Then again, given how both Freddie and Fannie have difficulty keeping their numbers in check, I'm not sure how solidly I'd trust their analysis of mortgage movements at the moment.

In other news, my inside realtor source sent me yet another Internet describing the tightening market in the Metro D.C. area, with surprising sales increases for what's typically a sluggish time of year for real estate. One has to wonder if that whole "BUY NOW OR BE PRICED OUT 4 EVAR" campaign is having an effect or not...

Posted at November 10, 2006 04:47 PM

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t's funny to do one of these entries at the end of the week and see who guessed what right, and who was off the mark. Case in point: mortgage rates. On Thursday, Bankrate reported that rates were back at 6.32 percent after flirting briefly with 6.31 percent. They said this with the confident authority of those who've watched the market for some time and can predict its ebbs and flows. The very next day, Freddie Mac stated that the 30-year fixed was up to 6.33 percent. So much for certainty, eh? Then again, given how both Freddie and Fannie have difficulty keeping their numbers in check, I'm not sure how solidly I'd trust their analysis of mortgage movements at the moment. In other news, my inside realtor source sent me yet another Internet describing the tightening market in the Metro D.C. area, with surprising sales increases for what's typically a sluggish time of year for real estate. One has to wonder if that whole "BUY NOW OR BE PRICED OUT 4 EVAR" campaign is having an effect or not...