Yes, there's going to be another one. And despite directing the last four installments, and taking the series in it's current heist movie direction, Justin Lin has declined to return for Fast And Furious 7, leaving Universal on the look out for a replacement for their biggest franchise. Jeff Wadlow (Kick Ass 2, Never Back Down), Baltasar Kormakur (Contraband), and Harold Zwart (The Karate Kid remake) were all approached, but, according to Deadline, James Wan is expected to sign a deal by the end of the week. If the deal goes through, he will be an interesting choice as this will be serious departure from his previous films Saw, Insidious, and the upcoming The Conjuring. Personally, I think he is a great choice, and if he can turn his knack for creating genuine scares to conjuring insane action sequences (though he is going to be hard pressed at topping pulling a cargo plane out of the air using only two cars), we are in for a good time.
Rumors are that Universal are fast tracking the sequel, which will pick up from the end of 6, with production planned to begin this Summer for a 2014 release date. Vin Diesel and Paul Walker are signed on to return, with a question mark over Dwayne Johnson, though he has hinted at a possible spin off for his character Luke Hobbs.