The prediction for mortgage rates and where they will go next (up, down, or remain low) is uncertain, according to economists quoted on realtor.com.Jonathon Smoke, realtor.com’s chief economist, writes that while most economists forecast that rates must eventually go higher because of inflation that is bound to happen – yet today rates continue to hover around three-year lows.
Citing the UK’s Brexit as aiding in keeping mortgage rates low, as well as “a weak employment report for May”, as far as edging upward goes, Smoke writes, “…these historically low rates should remain until the end of summer peak in s ales, or at least long enough for any summer buyers or refinancing procrastinators to get locked in”.
That being said, the question of rate increases aren’t a matter of if, but when.
Source: http://www.realtor.com/news/trends/where-mortgage-rates-are-heading/