Are rates going to go up or down in the next few months? I want to get pre approved soon, but want to do it at the right time.

I anticipate mortgage rates to go down since the Federal Reserve did not increase the Federal Funds rate yesterday. You can view my live mortgage rates at http://www.newhomemortgagemn.com/minnesota-mortgage-rates/ Be sure to bookmark the page so you can always come back to it.

That question is impossible to answer.. Rates change daily, and we are at the lowest we've been in 60 years.. so if you think about it.. how much lower can they go?? In all reality, the likelihood of rates improving is far less likely than rates going up... also, when the market improves, it goes slowly over a long period of time.. but when the market goes bad, it goes bad really quick.. You're far better off getting pre-approved now, and go find a home to buy.. as soon as you can, lock in your rate.. Also, understand that home values are also increasing.. so by sitting on the sidelines waiting for a maybe 1/8th better rate, which might save you $15 per month, it ends up costing you if that $200,000 home your looking at is now $210,000.. 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

No one knows... But seeing as we are essentially sitting on the bottom of the possible interest rate market. there is only on way to go, and that is UP. If you are thinking of holding off for better rates, that would likely be a really bad mistake. Jump in now. For loans in MN, WI, and SD, visit me at www.MortgagesUnlimited.biz