Are mortgage rates on their way back up?

YEP.. They are.. But they could come back down.. Or they could stay put.. Or they could go up even further!!! Confused?? Now's a great time to buy or refinance... 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

Who knows. I dont!

Yes. In addition to some upward pressure, an increase in fees required on Fannie and Freddie loans, known as G-Fees, factors into pricing, which ultimately increases rates. Stop waiting. If you are waiting for the bottom, you'll miss it. Rates are great and aren't likely to get much better, if at all. Now is the time to strike. Whether you are refinancing or purchasing, Now is the time to GO FOR IT! ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ Licensed in California and Arizona ~ www.LoansA2z.com 888-889-9950

Likely. If you're on the fence regarding whether to lock a rate, the short term forecast is very volatile. Lock it if you want to close on a refinance or purchase within the coming 45 days.

That depends on who your lender is. The goverment is putting 20 Billion a month into keeping rates down. The big banks are busy, so supply and demand are keeping rates high and inching higher. The big banks are making tons of money, they should be lowering rates. But why, they are in business to make as much money as possible. Of course they my give you a good deal on your checking account for using them? I work for a Direct Correpondent Lender so are rates are as good as it gets. I have not seen rates change this week. If you want to see what kind of rate you could get, please call me. Most people think the rate is what they want, when in reality it is the lower monthly payments.Pioneer Mortgage Funding, NMLS #1980David BuchananNMLS #916142 612-399-6763

very loaded question- right now rates are rising because a lot of inflated economic data reports are coming in to make the current president look good during the election period. Rates will be very volatile during the election and will start to calm down after that takes place. On the other hand you are likely to see rates increase a bit due to the major investors initiating a second G fee or guarantee fee. This is how investors bypass the mortgage coupon rate that is selling at 2.25% so technically rate should be in the mid 2's but they initiated a G fee in October to keep rates from falling too low. Think of it as a tax that banks charge on rates. There is no telling what can happen after the election as it will be very largely based on who takes office in 2013. For now my recommendation is lock it if you like it because there is too much uncertainty in the playing field.