Over the last year, mortgage rates have proven to be highly volatile. Many analysts and commentators even blame the recent rise in rates for stalling the still-fragile housing recovery. In the third quarter of this year, for example, mortgage giants like Wells Fargo (NYSE:WFC) and JPMorgan Chase (NYSE:JPM) saw mortgage origination volumes plummet by double-digit margins -- Wells Fargo's by nearly 30% compared to the second quarter and JPMorgan's by almost 20%. In the video below, Motley Fool contributor John Maxfield discusses where he thinks rates are headed from here.

John Maxfield has no position in any stocks mentioned. The Motley Fool recommends Wells Fargo. The Motley Fool owns shares of JPMorgan Chase and Wells Fargo. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.