Two better than expected economic headlines did not have a positive influence over the bond market. Following the release of PPI data, Treasury yields shot higher and MBS prices fell. Consequently, mortgage rates have risen today. Reports from fellow mortgage professionals indicate the par 30 year conventional rate mortgage has risen to the 4.875% to 5.125% range for well qualified consumers. There are however still a few lenders offering 4.75%. To secure a par interest rate you must have a FICO credit score of 740 or higher, a loan to value at 80% or less and pay all closing costs including an estimated one point loan origination/discount/broker fee. You may elect to pay less in fees but you will have to accept a higher interest rate. This is a good option for consumers who do not plan on keeping their home for a longer than three years. With more inflation data tomorrow and the Fed statement which can offer many surprises...I am locking any loans I have left in the pipeline....