Sites like zillow.com and bankrate.com are excellent resources for tracking and predicting where mortage rates will be headed.  For example, on zillow.com, you can track mortgage rates for the average 15 and 30 year rate based on daily, weekly, monthly or quarterly charts.  Note that rates are different for each state, so rates shown on sites like zillow.com show the average rate across all states.

To find local rates, it is best to search for mortgage companies in your local area.  For example, if you live in Austin Texas, one of the local mortgage companies called SweetWater Mortgage shows rates for the local area and Texas.  Rates can be as much as a 0.5% difference from state to state, so make sure to check your local rates in comparison to the US average mortgage rate trends.

Bankrate.com provides a zip code input form so the site can cater mortgage rates to your specific area.  The search results will provide the lowest rates around and disclose any points or fees associated with obtaining that specific mortgage.

Next time you are looking to find out current mortgage rate trends and understand what direction mortgage rates are headed, look no further than you local mortgage provider web sites or industry specific sites like zillow.com.

Other Articles:

Getting the Best Mortgage Rate on Investment Property Loans
HUD Foreclosure Properties
Residential Hard Money Loans

It should be noted that HUD mortgages (which are really FHA loans) should not be confused with HUD homes.  HUD homes are homes that have been foreclosed on which were financed with a FHA loan.  These homes can be purchased with HUD mortgages (FHA loans) as long as the purchaser is a first time home buyer and qualifies for the HUD program.  HUD homes can be a cost effective way for first time home buyers, but beware that these homes usually require a lot of repair work.  Since HUD homes are foreclosed homes, they are usually not in the best of shape.  The benefit rather is that usually HUD homes can be purchased at a discount compared to comparable homes in the same area.

Other Articles:

HUD Foreclosure Homes
Investment Property Loans