Mortgage rates on a 30-year fixed rate mortgage rose slightly this week after a continuous drop for the last two months, according to Freddie Mac.  

Rates rose from 4.49% to 4.50% in a weekly comparison; however the low mortgage rates have just not been enough to help the struggling real estate market.  High unemployment rates, tight lending standards and falling home prices have kept most of the potential homebuyers on the sidelines.

Mortgage rates tend to follow long term Treasury yields; therefore, the rates have remained low this year as investors have moved their funds over the fear of the failing economy.  Since mortgage rates follow the yields, they can change significantly, even on a given day.

Freddie Mac collects mortgage rates from lenders across the nation, weekly Monday through Wednesday.  The rates do not include add-on fees, also known as points.  One point is the equivalent of 1% of the total loan amount.