At the time I am writing this, mortgage interest rates are almost 1/4th of a percent higher than they were last Friday.

On Tuesday the Dow Jones Industrial stock index broke through its all-time high set back in 2007.This is bad news for interest rates, because it shows investors are confident in our economic recovery. With our economy getting back on track there is less of a reason for the Federal Reserve(Fed )to keep interest rates low. The only reason we did not see rates go higher this week is because Fed is still deflating rates though their quantitative easing program. The stock market is till overbought and should be due for selloff and when that happens we should see a drop in rate, but it will only be temporarily. Look for rates to continue to slowly climb as our economy slowly recovers.