What are rates going to do in the next couple of months?

Hello Jeanette... It is so hard to tell what they might do. The Federal Reserve has indicated that they will raise the Fed Rate in December. This rate has been at zero for nine years but now they feel the economy is doing well enough that they can raise the rate to .25%. The Fed Rate does not directly affect mortgage interest rates but it does influence them. When the head of the Fed, Janet Yellen, hinted that December might be it, interest rates moved up about .25%. As far as seasonality, that really doesn't influence rates. The economy and global concerns generally have more impact on rates. When the economy is doing better rates tend to go up. Most of the experts don't know what is going to happen. They have been more wrong than right, but most seem to think that rates will stay reasonably low for another year. If you have any questions, please don't hesitate to give me a call or email. Linda Miller, 801.550.1222. linda@lindamillergroup.com