The middle of the week of June 14 wasn’t much different from the earlier days when it comes to movement on mortgage rate averages. While the various metrics inched a bit higher in each area, it wasn’t enough to move the main average, which remains firmly locked on 4.125 percent for the 30-year fixed bellwether rate average. On the same note, market watchers are seeing lenders begin to add to borrowing costs with increased fees and processing charges, making the overall cost of a mortgage go up further.

In the meantime, everyone is looking to the Federal Reserve and Ben Bernanke again to making critical comments signaling future direction of the national economy. The Federal Open Market Committee is expected to meet next week, which is highly anticipated by private lenders to gauge where their interests may be industry-wide and going forward. Additionally, more federal reports are expected to be released tomorrow, which could have a rate direction impact as well.

Those paying attention to the housing market, however, will note that foreclosures are surprisingly rising again. Based on data from RealtyTrac, foreclosures jumped up two-percent over their previous 75-month level. The change could be due to lenders realizing property prices are rising, so it's time to grab a property and sell it for greater profit than to continue to take a loss on a default loan.

Despite the above, there was no sizeable change in the 30-year fixed rate mortgage average, which continues to be entrenched on 4.125 percent as the best offer available. The 15-year counterpart is now in a much tighter range creeping upward as it fluctuates between 3.25 percent and 3.75 percent. The FHA/Veterans Administration loan is now locked up higher at 3.75 percent, which still remains competitive to the open market. And finally the 5-year adjustable rate mortgage stays the same with a wider range of 2.9 percent to 3.25 percent.