Mortgage Interest rates are related to the bond market. When you see the bond market climb in value, you can expect interest rates to react in the opposite manner. With Bond prices trading up, more bonds are being purchased. With the bond price increasing, the yield on the bonds decreases ultimately causing the rates on mortgages to fall. Conversely, if less people are buying bonds, bond prices will fall, consequently you can expect the yield to increase and the mortgage rates to climb.

This sample above shows bonds trending up. You can expect that interest rates for the day would consequently be slightly lower because of it.

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Remember, if the bond prices are falling, maybe it is time to refinance.