Are interest rates expected to keep rising or expected drop again in the next month?

Question

I was originally quoted 6.25% and I waited a week hoping it would decrease, now it has jumped to 6.5% and added another $20 bucks to my mortgage! Will they come back down w/in the next month or should I just lock it now. I close 082808. Does IndyMAC have anything to do with the rise?

Answer 1

The only true way to answer that is if I were GOD I could tell you !!!! either way it is a gamble.

Answer 2

I would lock in now. In Canada they are telling us the real inflation rate will be 11% by xmas. Ditto for the U.K. if most

countries are like this I think the governments will step in and raise interest rates to cool inflation.

Answer 3

it will keep rising since the fed will do that to hold back inflation!!!