Welcome back to bank rates.

Weekly Expert pole for mortgage Rate Predictions This is where we ask financial experts to give us their predictions for next week's mortgage rates.

According to bank rates, latest national survey of mortgage lenders, today's interest rate for a 30 year fixed rate mortgage is 3.77%.

That's seven basis points lower than it was last week.

On bankrate dot com.

The average rate clicked on by consumers was 3.66%.

That's significantly lower than even the national average.

So let's see if our experts think today's rate will move up, drop or stay the same next week, and the voting results are here this week.

None of our experts predicted that rates will go up.

31% of experts say that rates will go down, and a whopping 69% of experts predict that rates will stay the same next week.

This is the second week in a row that the majority of voters predict flat rates in the coming week.

Many of the experts cited the Chinese Corona virus for keeping the markets on edge as well as lackluster bonds activity.

The Fed meets next week, and most people agree that they'll take a dovish approach to Reed's.

Logan Motor Shami, senior loan officer at AMC Lending Group in Irvine, California, sighted next week's Fed meeting in his prediction regarding the Fed.

The market believes the Fed is really out of the picture.

While growth is stalling, the bond market will get ahead of any Fed action in the future.

So for now, Fed meetings don't have the same importance as they did last year.

So what does this mean for borrowers?

Right now, rates are low.

That means the loans are inexpensive.

So if you're shopping for a home loan now, you'll save even more money this week than you would have saved last week and a freight stay the same as experts predict.

Then you'll have an extra week toe lock in the sub 4% rate.

Next week, the Fed is meeting, which can have an effect on rates, especially short term loans like adjustable rate mortgages.

Even though the Fed is expected to keep rates where they are next week, experts warn that borrowers shouldn't bet on what might happen tomorrow in hopes of scoring an even better deal Greg McBride, chief financial analyst at Bankrate, says even with the Fed holding interest rates study, mortgage rates could have higher as the year progresses if inflation moves up or economic growth surprises to the upside.

The big takeaway here is that this is both a good time to lock in a rate for purchase loan as well as refinance in existing loan.

If you have an adjustable rate mortgage, this is also an opportune time to refinance into fixed rate and lock in today's low rate.

That concludes this week's forecast, but come back next week to see what experts think will happen to rates after the Fed meets.