Fixed-rate mortgages are back up to where they were at the beginning of the year while adjustable rate mortgages continued their decline. Many fear that the increase in this spread could spark an increase in adjustable rate mortgages as they are cheaper. While this may simply be an issue of supply and demand, it could mean more problems down the road if things aren't kept in check. Also, those looking to refinance may want to do so quickly before rates continue to rise for fixed rate mortgages.

From The Wall Street Journal:
U.S. fixed-rate mortgages inched higher in the latest week, according to Freddie Mac's survey released yesterday. The national average interest rate on the benchmark 30-year, fixed-rate loan averaged 6.04% in the week ended yesterday, up from 5.72% a week ago but lower than the year-earlier 6.22%. The 15-year fixed-rate loan averaged 5.64%, up from 5.25% a week ago but down from 5.97% a year ago. The five-year Treasury-indexed hybrid adjustable-rate mortgage averaged 5.37%, compared with 5.19% a week ago and 5.96% a year ago.