It’s hard to believe but half of 2007 is over. The chart below shows what the 30 year fixed mortgage rate has done so far this year. It also includes the average points lenders are charging for the interest rates shown. 
Keep in mind that the historical average mortgage rate is somewhere between 8% and 9%. The Phoenix Real Estate Guy has a great chart here. So with that in mind we see that rates are still pretty low. It is important to understand however that rates are higher for those with poor credit, self-employed borrowers and those requesting loan amounts higher than the conforming limit ($417,000). These are only some of the factors affecting interest rate. It is also important to understand that just like there is more to an apple pie than just the apple, there is more to a mortgage loan than just the interest rate.Â