Check Banking Websites

• Visit bankrate.com, which posts daily updates on mortgage rates. The home page lists national averages for 30-year mortgages, 15-year mortgages and five-year adjustable rate mortgages.
  
  

Check the Treasury Bond Prices

• Check the prices for treasury bonds, particularly the rates for 10-year and 30-year bonds. Mortgage rates can often be predicted by looking at Treasury bond yields. Yields and mortgage rates often move together. If yields rise, mortgage rates usually do the same.
  
  

Consult Mortgage Lenders

• Shop around for your mortgage. It pays to call several lenders to get the current rates. Do this on the same day so that you can compare the rates. If the rates aren't to your liking, ask the lenders to contact you when rates reach the level you're seeking.
  
  

Sign up for Alerts

• If you don't want bankers calling you and don't want to spend time checking rates all day, you can sign up to receive alerts when rates reach the level you're looking for. Bankrate.com offers this service.
  
  

Talk to your Realtor

• Contact your real estate agent, as these people keep close tabs on mortgage rates and specials. It's important for Realtors to know when rates drop, as this helps their sales. They also work closely with local banks, and know where the specials are.