Nobody knows when but interest rates will go up. Seriously, nobody knows when. Rates have been at a historical low for months and months. You, your friends, your family, and your co-workers keep reading little articles like this one saying, “refinance now or buy now if you need to because rates are going up.” Still, you have not done so. No, you’ll wait until rates are up and say, “man I can’t believe I missed that opportunity!”

This past week we saw rates jump from 4.75% to 5.25% in less than 4 hours. We saw people who had not yet locked in their rate have their payments jump as much as $50 or more per month just by waiting a few more days.

Now we do expect rates to decrease slightly in the coming week but not one person knows when or how much. You can rest assured thousands of bloggers will be guessing and some will be right but not because they necessarily knew anything special – even though it does take knowledge and understanding to “get close”.

Do yourself a favor and call a LOCAL MORTGAGE BROKER or lender like Novation Mortgage if you are in Georgia or Florida and get the facts today. The chances of rates going higher are vastly greater than them going lower or even staying level.

Georgia and Florida FHA loans for purchase or refinance including the 203(k) and streamlined.