In the past month, there's been a mix of economic indicators that has economists debating whether inflation or a recession is the biggest issue in regards to moving the U.S. economy forward.
And all of this talk has sent mortgage rates higher for one reason or another. Back in mid-January mortgage rates hit a 4-year-low based partly on fears the U.S. economy was headed into or already in a recession.
But interest rate cuts by the Fed, fears of inflation and the passage of a stimulus package by Congress have helped propel mortgage rates higher as talk of the U.S. economy regaining some strength later in 2008 increases.
We obviously can't predict with certainty where rates or the economy will go in the future. So it's just another reason why if you want to buy a home, you should do it sooner than later while rates stay at historically low levels. Who knows where rates will head 6-months or a year from now.
You can read more about the increase in mortgage rates during the past 30-days at "The Mortgage Reports" blog.
