Yes, mortgage interest rates rose this week. According to Bankrate.com, the average 30-year fixed-rate mortgage loan carried an interest rate of 5.45 percent. That's up from 5.24 percent a week ago.

Rates rose on 15-year fixed-rate mortgages, too. Those rates jumped to 4.86 percent, according to Bankrate, from 4.74 percent one week earlier.

To all this, I have one thing to say: Don't panic.

Yes, we all want the lowest mortgage interest rate when we are refinancing our loans. I understand that. But rates are still at historic lows. A 5.45 percent interest rate is still a wonderful rate.

Homeowners looking to refinance their mortgage loans can drive themselves crazy watching rates fall or rise every day. If you'll save money each month through a refinance, and those savings are high enough to justify the hassle of digging up reams of paperwork, then make the move, regardless of whether rates rose a bit or fell a bit. Just remember, refinancing usually isn't free. You'll have to pay, usually in the range of $2,000 or more, to get one done.

It's impossible to know if mortgage interest rates will rise again next week, or if they'll fall a bit. But waiting to find out doesn't make much sense. Mortgage loan officers are swamped these days. The weak economy and housing meltdown has chased many from the business. Those that remain are handling more work than ever thanks to the low mortgage interest rates now available. So don't delay too long if you are ready to refinance: Who knows how long it'll take your loan officer to get to your application.