is expected that fha rates will drop ?

No one knows the answer to that, rates are so low now that I would personally recommending locking in a rate!!!

With rates this low, the question is how much lower do you think they will go? At what point does a bank say they cant make any profit if they go any lower? Here's the reality.. Industry professionals who look and study markets all the time pretty much have the same general prediction.. Rates are going to go up in the near future.. like the daily stock market, there are always fluctuation that happen day to day.. but overall, rates will begin to tick upward.. This all being said, you need to understand that when rates move downward, it happens slowly and over a long period of time.. but when the market goes bad, then rates jump up quickly.. Trying to time the market is near impossible.. and in reality, the small gain you might get by waiting to lock is at the risk of having to pay a much higher interest rate because the market went in the wrong direction.. I always suggest that once you are in a position to lock your loan, you should do it and don't look back.. 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. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com NMLS# 226347