September 9th, 2010 8:47 AM by Eric Fang
There are two different opinions about the mortgage rates:1)The short term rate should go up. The reason is thatthe MBS and treasury were over bought. The rate willgo up on any good news.
2)Anoth kind of opinion is that the rate will go downto the previous low level because the job market is nogood and the housing market is still bad. And the economy recovery is not as good as expected.
Both of them are right. One is short term rate expectionand another is the long term prediction. For the borrowers,just try to get a rate that you are comfortable with.
And also, the current lender loan processing time is around 45days to 60 days. Be patient if your loan is in the pipeline.