Inflation Fears Push Mortgage Rates Higher

And although mortgage rates are up appreciably from a month ago, they remain lower than at the close of 2007, and are 0.13 to 0.25 percentage points lower than they were at this time last year.

Nevertheless, some analysts say the recent shift could indicate that mortgage rates have turned the corner. As the Fed balances the needs of the economy against rising inflation pressures, it is becoming less and less likely that rates will drop significantly from where they are now.

If you are thinking of refinancing but haven't put in the paperwork yet, now might be a good time to get going. And to get you started, here are some of the more attractive mortgage offers from the mortgage section of BankingMyWay.com. All of the rates are based on a 30-year fixed rate loan of $175,000 for a single-family, owner-occupied residence, with a 20% down payment.

• In New York City, Wachovia Bank, National Association is offering a rate of 5.750% (no points) with an APR of 5.906%

• In Chicago, Marquette Bank is offering a rate of 6.125% (no points) with an APR of 6.163%

• In San Francisco, the Internet bank American Lending is offering a rate of 5.875% (no points) with an APR of 6.022%

• In Dallas, Neighborhood Credit Union is offering a rate of 5.750% (no points) with an APR of 5.840%

• In Boston, the Internet bank Maricopa Mortgage, LLC is offering a rate of 5.875% (no points) with an APR of 6.021%

• In Houston, Wachovia Bank, National Association is offering a rate of 5.750% (no points) with an APR of 5.882%