The market for rates has not been very good for those looking for the cheap money.  We have seen rates steadily move upward for the past 10 days.  When will there be any help in site?  That is the question that all mortgage people would love to know.  Oh to have the crystal ball.  We are currently at the highest point for rates in 2008.  Here is what Money.CNN has to say about the situation: 

"Rates on 30-year fixed mortgages have surged nearly a quarter percentage point to an 8-month high on growing concerns about inflation, mortgage backer Freddie Mac said Thursday.

Freddie Mac (FRE, Fortune 500) said 30-year fixed-rate mortgages averaged 6.32% with an average of 0.7 point, up from 6.09% last week. Last year at this time, the 30-year loan averaged 6.74%.

The last time the 30-year fixed rate mortgage was higher was the week ended Oct. 25, when it averaged 6.33%.

"Mortgage rates jumped this week after a number of Federal Reserve officials, most notably Chairman (Ben) Bernanke and Vice Chair (Donald) Kohn, expressed concern over a threat of inflation," said Frank Nothaft, Freddie Mac vice president and chief economist, in a statement.

"This led some market participants to believe that the Fed will raise rates more aggressively over the year than previously thought," Nothaft added. "

Most the indicators suggest that we should see rates fall ;however, rates are moving in the oppiste direction.  The ggod news is that they are better than they were last year at this time, and in the grand scheme, they are still pretty good.  We have to deal with what we are giving, and we can make this volatile time be very successful.  We need to make sure that we appreciate the business that we have and continue to to supply our clients with the service that we expect.  Good luck to everyone!!!  Talk with you soon!!!