Am I right in assuming that the recent rate hike has come to an end.

Hi PeterInterest rates are slightly lower than the current high's over the past month or so. There have been days over the past 2 months where rates have gone up roughly .25% in one day. Rates change by the minute like the stock market. There is different economic news throughout the week that can also have an impact on rates. If you'd like I would be happy to sign you up for our rate watcher service so you can follow the interest rate market in real time like I do. This will help you stay on top of the market and any key things to watch for during the coming weeks like the unemployment report, home sales etc, which could impact rates. Shoot me a message if you're interested. Have a great weekend.

Hi Peter, I'm not sure it's ever safe to assume anything when it comes to interest rates. There are so many factors that go into rate movement, it's not possible to forecast where they are headed even if it's your full time job, much like stocks (though stockbrokers try). The advice I always give my borrowers is to lock when they are comfortable and not try to shoot for the bottom. Rates tend to move up a whole lot faster than they move down, so the risk/reward is not really worth waiting in my opinion. Find a rate/fee combo you are comfortable with and lock it in. Best of luck!

Downturn is only temporary.

Hello Peter, interest rates are slightly lower than they have been over the last couple months, however they are expected to continue to rise over the year. You can never assume anything with interest rates, as they can change unexpectedly. You're best bet is to make a move now if you are planning on purchasing or refinancing, rather than waiting to see if rates move lower.

Although rates have settled down for a bit, there's no guarantee that they won't spike up or down in the future.. The market drives interest rates, and there are many things that happen every month that can move the market... currently, most indicators show the overall economy is moving in the right direction.. Good economy is bad for interest rates.. so expect rates to continue to rise... if you're on the fence about purchasing or refinancing, your far better off doing it now, since higher rates take away your purchasing power.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

Hi Peter,No crystal balls in my office, sorry! There has been a slight downward trend the last couple of weeks but we are still a lot higher overall than we were about a month ago. The rates may fall (and rise) slightly on a day-to-day basis, but the oversall trend will be a gradual (two steps forward one step back) increase. If you are waitng for rates to decrease substantially you will be waiting forever. Please call me at 201-906-1177 if you would like to chat live. Thanks.

The rate hike has ended and we are currently in a "flat" portion where rates are bouncing up and down a bit during each day.You will not likely see any 30 year rates in the 3s without significant buy downs. However, it is obviously not a good program to holdout hoping for lower rates. If you are going to buy/refinance -- do it soon with a local, licensed mortgage professional who will helpyou find the best rate for your situation.

The recent lower rates are just a natural settling after a severe rate spike. Over the next year we will more likely see rates slowly step up. This stepping up may not be severe as the recent two month period, but as the FED pulls back on it's Bond Buying Program we will see rates go higher. A rate of 4.5% is a safe lock, if you can find lower you should definitely take it.

No, it is not a good assumption at all. There might have been a slight over-reaction to some financial news that has temporarily settled things back down. But the underlying issue is going to pop its head again. Might be tomorrow, might be three months from now. If you are in position to make a move today, you'd be, in my opinion, foolish no too.