Where Are Mortgage Rates Headed?

Implications: Article points out that Freddie Mac reported Thursday that 30-year, fixed-rate mortgages averaged 6.21 percent nationwide this week, up from 6.15 percent last week and that it was at highest level for 30-year mortgages since they average 6.22 percent the week of April 12.

Analysis: It does not appear to me that mortgage rates have moved significantly in any direction in several weeks.   When it moved down to 6.15 last week, we saw some headlines about it being down quite a bit in response to a lower fear of inflation.  Within a week it has crept up to where it was about 5 weeks ago.  The rates have essentially fluctuated around a few numbers and the trend appears to be neither up nor down at this time.