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Is it time to lock in a mortgage rate?
Since the nature of a market is completely unpredictable and we can’t with 100% accuracy predict the future of the market we can only examine the facts.
What are the facts?
- Bankrate.com analysts predicted that mortgage rates will rise over the next 6-weeks.
- Mortgage Rates are showing an upward trend since May
- Although, speculation that inflation is rising has increased. Recent indicators suggest that production increased last quarter. This could indicate that inflation is stabilizing and the credit market has some cushion.
- Some experts predicted that rates could be 7% by the end of the year
