The situation with the current mortgage rates is rather quiet this week. The financial markets and analysts are sitting tight weight to see what the Fed is going to do. Will the Fed continue the purchase of mortgage-backed securities or will it end?

According to Peter Hooper, a chief economist at Deutsche Bank Securities Inc., if the Fed and the government abruptly stop the two stimulus programs that are in place to help the recovery of the housing market the currently mortgage rates may go up by a half to one percentage point. Hooper is a former Fed official and refers to the First Time Home Buyer $8,000 dollar tax credit and Fed's buying of mortgage backed securities that has helped to keep today's mortgage rates low.

One would think that after yesterday's MBA report today's mortgage rates would have fallen further or at least stayed flat. However, that's not the case. The current mortgage rates in Zillow's national average graph show that they inch up.

Today's mortgage rates came slightly down after the news that last week's rising loan rates have slowed the demand for the new mortgages and houses. The Mortgage Bankers Association said this morning that due to the shortened banking period of last week and the rising rates in the past few days the demand for new loans has dropped by eight percent.

While the general trend with the current mortgage rates in the past few months have been pretty stable, Zillow shows that today's mortgage rates are nationally sharply up. That has actually been the direction in the past two three days according to Zillow graph.

The current mortgage rates that we see from today's major mortgage providers show one interesting trend. We can say that they have been trading from flat to downward direction.

As current mortgage rates in U.S. moved downward, the average landing at 5.4 percent according to today's numbers by Bankrate, the report by the European Mortgage Federation shows that in the first quarter Swedent had the biggest decrease in in mortgage rates when considering developments on a year on year basis. The second and third places are shared between Ireland and Portugal. UK and Denmark came fourth and 5th.

Before a borrower applies for a home loan, many factors come into play that will affect everyone involved. From seller and real estate agent to the buyer, banker and broker handling the mortgage will effect your loan. Problems are reduced to just a few with a direct 30 year mortgage from the local bank, but they still exist. See how five other factors besides the current mortgage rates will affect your loan.

While the current mortgage rates are still at historic low levels the mood about the rates going up or coming down changes daily. We conducted a little research online trying to catch the mood of today's mortgage rates, if it can be put that way. The mood is positive, most opinions involved in this light study show downward trend.

Long-term mortgage rates ticked down last week, which Freddie Mac, in its weekly survey, attributed to bond yields. The current mortgage rates remain near historic lows, fueling more interest in home sales.

Today Zillow released its survey results about the current mortgage rates, which are based on the polls that were conducted last week. According to it, today's mortgage rates for the 30-year fixed mortgages are lower and the low interest rates continue to inspire home buyers.

Freddie Mac today released the results of its Primary Mortgage Market Survey. This week the current fixed rates rose very slightly, but despite that, Freddie believes that continued low rates are helping boost the housing market. July sales rose for the fourth consecutive month to an annual pace of 5.24 million in July, the most since August 2007.