There were fears that when the Fed stopped buying mortgage-backed securities at the end of March 2010 mortgage interest rates wold shoot way up. There was some validity to those fears. When the MBS purchasing program concluded the rates on mortgages bounced up more than a quarter of a percent in the following weeks.
Since then other global factors have kicked in and mortgage rates are back down again. The main driver of the dip in rates is the troubles the European Union are facing lately. With the troubles across the pond more global investors are buying the relatively safe US treasury bills and that is in turn compressing mortgage interest rates.
The takeaway from all of this is that if you have been considering refinancing to a better mortgage interest rate contact us in the sidebar now. The current dip in interest rates is a temporary thing so rates will likely only move up from here.