Perry follow the 10 year treasury yield as long term mortgages pretty much go lock step with this yield. If you add about 1.4 – 1.6 to the yield of the 10 year you should get an idea of what 30 year rates are at. What is most important is the trend line. There are charts all over the place to track the 10 year treasury. An easy way is to go to yahoo finance and you see it on the left hand side of the page. Click on the 10-year bond and a you will see the chart. Expand it out to 6 months and it looks like the trend hit bottom in early December at a little above 4.4% and as you noted it is definitely trending back up.
