Mortgage interest rate movements are as hard to predict as the stock market, and no one can really know for certain whether they will go up or down.\r\rIf you have a hunch that rates are on an upward trend then you will 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. If you do not close within the lock period, the rate will not be guaranteed; however, once the rate is locked the loan must close at that rate. If you're purchasing a home, review your contract for the estimated closing date to help you choose the right rate lock period.\r