Loan rates have been at historical lows for months now, but they are beginning to creep back up.  Both national and international events shape the mortgage loan climate and this is a busy week according to Michael Mertz of Sun State Home Loans,

Last week under­scores the impor­tance of the global com­mu­nity to the future of the U.S. mort­gage mar­ket. Two of the main rea­sons why mort­gage rates increased were non-domestic.

1. Con­cerns for a full-blown North Korea/South Korea con­flict less­ened quickly
2. The like­li­hood of a speedy, $85 bil­lion bailout Ire­land increased

The two events stemmed the typ­i­cal safe-haven buy­ing pat­terns that accom­pany geo-political and eco­nomic uncer­tainty, and drive down mort­gage rates.

This week, mort­gage rates may rise again.

Today the national average is 4.40 for a 30 year fixed rate mortgage loan.  True that the rate is increasing!