Mortgage Rates Higher as Treasury Yields Move Higher: 30 Year Mortgage Rates at 4.96%

Mortgage rates are higher this week over last, following U.S.  Treasury yields higher. Current 30 year mortgage rates are averaging 4.96 percent, an increase from the prior week's average mortgage rate of 4.81 percent. Mortgage rates will probably go down this week since the markets are still worried about the financial problems in Europe and the euro continues to slide in value against the dollar. As a result, Treasury yields should head back down as investors flee to the safety of Treasuries.