According to the panel of analysts at Bankrate.com, Interest rates will likely increase in the next 30-45 days.  Therefore, your best move would be to lock in your rate as soon as possible.   

"The Fed said that the current pace of inflation is an 'unwelcome development.' We should all listen, and then brace ourselves for higher borrowing costs as a result."
-- Dan Green, mortgage planner, Mobium Mortgage, Chicago

Fixed mortgage rates are considerably higher than they were one year ago. This time last year, the average 30-year fixed mortgage rate was 5.61 percent, calculating a monthly payment on a loan of $165,000 to be $948.27.  At the current rate of 6.69%, a 30-year fixed would be $1,063.61.

 In response, LEI has recently introduced a new loan program that can lock in your payment for the next 5 years and EVEN in most cases bust those pre-payment fees.  This is great news for past borrowers of 6 month LIBOR loans.  With the current and future fluctuation of rates and consistent hike in the last few years, LEI set out to meet the needs of its customers by offering a program that will be attractive to consumers that have seen their adjustable rates climb on them as of late.  

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