are refinance rates going back up now?

There is no exact time as to when someone should or should not refinance if you are rate conscious. Rates fluctuate on a daily basis and will go up or down depending on many factors. However, over the past couple of months Interest Rates have been steady and low even though there has been some minor ups and downs. People typically refinance when they are willing to commit to a rate that they are comfortable with and qualify for. Feel free to give us a call 877-834-3340 and speak to a specialist so that we can further inform you and help guide you on whether or not it would be in your best interest to even refinance at all. However, the longer you wait, there is a possibility of rates going up and guidelines changing which may hinder your chances of locking in a low rate today. It all depends on you.

I agree that most people should "refinance when they are willing to commit to a rate that they are comfortable with and qualify for." Right now, rates are at historic lows, albeit, slightly worse than the best levels we have seen recently. Still, they are remaining low in the near future. One thing to be aware of, though, is that speculation would suggest that the recent "Quantitative Easing" initiated by the Fed will continue to offer us some low rates for the near term, but eventual inflation fears may cause considerable volatility and an increase in rates by early next year. My personal sentiment, if it works for you now, get started.

Based on my personal work experience - if rate make sense financially and saves you enough - just go for it. Given that you cannot predict mortgage rates trends on a long run, you will be taking risk if you float. As to your chances - I'd say about 60% of my clients who waited ended up closing at higher or the same rate or didn't close at all as the rate went up to the point when it just doesn't make sense.