WOW, after hitting a low of 5 1/8 to 5 1/2 rates have risen over 1/2 point or more to around 6 1/2% currently. Where is it going from here? I think they will float from the high 5's to the mid 6's over the short term. Bond rates are trending lower and this should keep mortgage rates low, but there is concern mounting over inflation and the Fed cutting short term rates to improve the market conditions. Plus the Fed is printing money like it is going out of style, which some think it is (dollar lower across the board). I still don't see the higher rates of years past but this is certainly a good time to buy a home just in case.