Is the rate move up done? Can we expect it to hold steady?

Hi Mike, If anyone tells you they know what rates are going to do it this market I would run! What I can tell you from my experience is that when rates go up they go up fast and when they go down they go down slow. Rates today are still at historical lows and if you are happy with the current rate and fees you are being quoted I would strongly suggest you lock in the rate and move on. Good Luck! Corey Www.bestcoloradomortgage.com

We have seen the rates go up since Oct 2010. I was able to offer around 4.25% on a 30 year fixed. Now it is around 5.0% and has been floating aournd this rate for a couple weeks. My suggestion is, if you like the rate and fees that you are quoted and there is benefit to the Refinance, then go do it. Why wait? My name is Rich and you can email me, for more info on my rate and fees @ rconstantine@myhsoa.com. or 714-299-5807. Hope this helps. RC.

Great question. The bottom line is that NOBODY knows where the rates are going to go or how long they are going to stay there. People can get an idea based on a theory I like to call the "object in motion".. which is much more obvious than science. Here's how it goes: If it's going up, "It's going to continue to climb".. and If it's going down, "We could see it continue to decline." It's all bologna. Here is reality, look at YOUR situation.. and the value that a refinance can provide you and your family. If you decide (based on what's available the day you're looking at it) if it makes sense. If it does, go for it. If it doesn't, wait it out. I have a lot of customer that ARE refinancing now because there is a strong feeling that the rates are going to continue to rise. I feel that way, they feel that way, but none of it matters because it's your situation that's important to you. I hope this was helpful to you in some way. Let me know if I can help you further. www.biltmorebranch.com