We normally don't make interest rate predictions, but this time we can:

The next time that mortgage rates move, it should be a significant move.  Here's why:

Mortgage bonds have followed the 200-day moving average now for the better part of 3 weeks of trading.  What tends to happen on these 'sideways' movements is that the next move is big.  Typically very strong.

Signs of a break out towards better / lower mortgage rates:

• The consumer price index dipped.  This keeps inflation lower. 
  
• Housing starts are down. That's a weak economic sign.
  
• The massive hedge fund, Paulson & Co., started buying mortgage-backed securities.  If a market to sell mortgage bonds reappears, this could be great for mortgage rates.
  

What could go wrong:

• Big news.  This is in a few groups, but any signs of a healthier economy by virtue of positive reports in the labor market, manufacturing sector, or something similarly unlikely could push rates down.
  
• Congress.  A $700 Billion bailout plan is sort of like holding an ocean over Lake Michigan.  If they drop the ocean, Lake Michigan sees more than just ripples. 
  

Homeowners---great news.  Slower housing starts means less inventory coming online soon.  That helps stabilize prices.

Homebuyers---buy now.  Prices are low.  If rates go down, just use our No Closing Cost refinance program to ratchet your rate lower.

Homeowners---more good news.  Now, while mortgage products are available, get on the No Closing Cost program.  Existing customers can sign up here. New to us?  No problem.  We just need more info.  Enter your refinance information here.