Mortgage Rates Will Likely Continue Downward Trend

A recent survey of experts by Bankrate indicates that half believe mortgage rates will continue to fall over the next month or two.

Many analysts say fears of inflation are overblown. While the Fed is printing money rapidly, this doesn’t cause inflation until it is borrowed. However, most consumers don’t have the financial ability or inclination to take on more debt.

“If you missed out on the low rates of earlier this year, get ready, because this fall we may approach the lows in mortgage rates reached earlier this year,” Michael Becker, mortgage consultant, Green Pastures Mortgage & Finance, Lutherville, Md is quoted as saying.

Current mortgages rates are only 0.05 percent away from the record low of 5.19 percent. While the economy does look to be on the mend, you can expect rates to stay fairly low for the duration of the year.