This is a short list of things that don't control mortgage rates:

1. 10-Year Treasury Note

Over long periods, the 10-year treasury trends with mortgage-backed securities. On any given day, however, the two can move in opposite directions. You can't watch the 10-year ticker on TV and think you know where mortgage rates are going.

2. The Fed Funds Rate

The Fed Funds Rate is the rate at which banks borrow from each other overnight. A mortgage rate, by contrast, is the rate at which a homeowner borrows from a lender. If the Fed Funds Rate and mortgage rates were connected, this chart wouldn't be so jagged.

3. Ben Bernanke

Ben Bernanke is the Chairman of the Federal Reserve, the group that sets the Fed Funds Rate. His influence on mortgage rates, therefore, is muted. However, Bernanke's Fed has been a buyer of mortgage bonds in 2009 so its influence on rates is somewhat elevated. The buying schedule ends in March 2010.

4. Congress

Congress can sway mortgage markets with policies and rhetoric, but as the legislative branch of the U.S. government, its influence on mortgage rates remains indirect. No matter what it says or does to influence the economy, it's still the traders in the mortgage markets that have to take the bait.

5. Chuck Norris

Although Chuck Norris can beat a brick wall in a game of tennis, his legend is no match for mortgage rates. When markets decide they want to rise, they rise.

There's only one thing that controls mortgage rates -- the price of mortgage-backed bonds. Unfortunately, there's no publicly-available tool to watch how mortgage-backed bonds are changing on an hour-to-hour basis.

As a loan officer, I pay for a premium data feed to track mortgage-backed bonds in real-time. I post semi-regular updates to my Facebook Fan page and to Twitter.

For some people, though, that's not personal enough and I understand.

If I can ever help with your individual rate lock decision or to act as a sounding board for your mortgage ideas, . I answer my emails personally and am happy to help you with strategy.

Dan Green is an active loan officer. Email or call 513-443-2020. Dan is on Twitter at @mortgagereports.