Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open.

What economic, political and other factors influence mortgage rates (and how)?
Without commenting on whether or not it's needed I don't think we are going to see a QE3 and all the political pressure is for some reason to start raising rates.  Regardless of how it plays out it's safe to say that the Fed Rate isn't going any lower.   You should also watch closely what happens to Fannie and Freddie.  If they are dismantled and government backed mortgages become a thing of the past then I think it'll become impossible for a consumer to find a 30 year fixed rate mortgage.  Even if they are kept alive, they will be put on a short leash and that will serve to further depress the mortgage market. Long story short, I'd lock your rate in.