Mortgage interest rate movements are as hard to predict as the stock market and no one can really know for certain whether they'll go up or down.
If you think that rates are on an upward trend, then you'll want to consider locking the rate as soon as you are able. Before you decide to lock, make sure that your loan can close within the lock-in period. It won't do any good to lock your rate if you can't close during the rate lock period. If you're purchasing a home, review your contract for the estimated closing date to help you choose the right rate lock period. If you are refinancing, you'll want to speak with your Mortgage Loan Officer about an appropriate rate lock period based on the complexity of your loan and the current loan volume.
If you think rates might drop while your loan is being processed, you may want to consider taking a risk and letting your rate "float" instead of locking. After you apply, you can lock your rate with one of our lenders by contacting your HomeQuest Mortgage Loan Officer at 1-866-839-1117.