Mortgage Rates Ticking Up.

By Troy Corman, t2realestate.com

Mortgage rates are on the way up. Fixed mortgage rates are tied to the US 10-year Treasury Note which has moved from below 3.25% to just below 4% in the last six months. According to bankrate.com, the overnight average on 30-year fixed rates was 5.26%, up from 5.12% a week ago. The 15-year fixed rate loan had a larger spike up to 4.58% this week from 4.36% a week ago.

Pundits argue as to why the 10-year Treasury Notes are rising. Some say it's because the economy is improving, while others argue that bond investors are growing increasingly concerned with the explosion of US government debt and deficits.

With rates still near historic lows, homes at their most affordable prices in years, and the free government tax refund money for buyers, some can buy a house with virtually no money out of pocket.