The 30 year fixed mortgage rates are not a mathematical science as Wall Street would have us believe. There are many forces that create cause and effect in today’s market trends. In this unusual world wide economic environment we are encountering trends never before seen. Where do we go from here and how do we move forward so as to regain economic stability?

The 2 most frequent questions I am asked by prospective borrowers are what is your rate and where do I think mortgage rates are going? Because interest rates are a constantly moving commodity, my answer today may not hold true tomorrow. My best indicator of future mortgage rates is to look at the past.

While the past couple days have seen a slight increase in current mortgage rates, mainly due to stronger than expected wholesale inflation reading in the Producer Price Index and better than expected retail sales reports, interest rates are still at historic lows and refinance applications have increased.

Current Mortgage rates have dropped today for the third week in a row, according to Zillow. Today's mortgage rates have fallen even closer to 5%.

Have we seen the last of the super low mortgage rates in Canada?

The percent of mortgages 30 days or more overdue rose to 8.49% in May according to LPS Applied Analytics, setting a new record. Rising unemployment rates are fueling these delinquencies, and complicating the problem of preventing foreclosures.

With current mortgage rates at historically low levels, many homebuyers and mortgage holders are asking whether a variable-rate mortgage or a fixed-rate mortgage is best for them.

Current mortgage rates are higher than just weeks and months ago. Actions taken by the Federal Reserve that started in the fourth quarter of last year helped push down mortgage rates during spring. The Fed's announcement to buy up mortgage-backed securities and long-term Treasury bonds helped keep these borrowing rates down, only to see them climb back quickly beginning in May.

Though today's mortgage rates are slightly lower than earlier this month, the spike in rates since spring pushed the nation's mortgage applications index down 16% for the week ending June 12. The drop in the index comes after a spike of 30% this past March when mortgage rates for a 30-year fixed loan averaged as low as 4.63%. The index, a measure of mortgage refinance and new home applicants, indicates consumers are discouraged by higher borrowing costs not yet offset by a drop in home prices.

People who have difficulties with selling their homes can do a house swap. Usually we have heard vacationers doing house swap, but now it is done also by those people who can't sell their homes.

Today's rising mortgage rates do worry economists and markets analysts. Most real estate brokers thing that the current mortgage rates may stall the economic growth that has just showed some positive signs of increase as Dow is in the win in 2009.

From coast to coast, headlines were recently announcing lower foreclosure rates, even in some of the states that have been ravaged by the bursting of the housing bubble. Some would like to see this as an indication that recovery is just around the corner in the real estate market. However, many experts disagree with this point of view, pointing to a variety of factors that they expect will further depress home values and contribute to rates of foreclosures rising again.