It’s just as difficult to predict mortgage interest rate movements as is it is the stock market, and no one can know for certain whether they will increase or decrease.You will want to consider locking an interest rate (as soon as you’re able) if you have a hunch that rates are on an upward trend. Before deciding to lock anything in, make sure your loan can be closed within the lock-in period—the rate will not be guaranteed if you don’t close within the lock period. However, after the rate has been locked, the loan must close at that rate. If you are purchasing a home, be sure to review your contract for the estimated closing date. This will help you in choosing the right rate lock period.