The average mortgage rate on a 30-year fixed rate mortgage rose slightly this week to 4.22%, from a 30 year record low of 4.15% the week before, according to mortgage giant, Freddie Mac. Average rates on a 15-year fixed rate mortgage, a popular choice for refinancers, also inched up this week to 3.44% from 3.36% last week.

Although the rates have seen incredible lows, it has not made much of an impact on the struggling real estate market.  The high unemployment rate, falling home prices and tightened lending standards are keeping potential homebuyers on the sidelines.

Mortgage rates tend to track long-term Treasury bonds and therefore can change significantly on a given day, Freddie Mac collects these rates weekly Monday through Wednesday.

The rates do not include extra fees that are also known as points.  One point is the equivalent to 1% of the total loan amount.