We’ve had a small uptick in rates as of late which makes sense since the Federal Reserve has been flirting with the idea of pulling back on buying mortgage backed securities. Currently, the Fed purchases $85 billion per month in mortgage backed securities. If they don’t buy them then the rates will have to go up in order to be more attractive to other investors. Private investors don’t want the risk for such a low return of 3%, etc. So we could see rates start their way up to 4.5 and 5%. The one factor that can help keep rates down right now is unemployment. The expectation is that there were 177,000 jobs created for the month of May. Tomorrow the jobs number will be released. If it’s at 177,000 or significantly higher, then we can expect rates to continue to climb. But if the numbers come in lower than expected, we will probably see rates come back down again.