Mortgage rates have been taking their cue directly from Wall Street, reacting to whoever controls the Dow; the Bulls or the Bears.

Last Friday, or "Black Friday," the day after Thanksgiving when consumers hit the stores in droves. A strong day at the shopping malls could indicate a strong finish in consumer sales.

As the stock market has given back nearly 9.00 percent of its gains since this past summer, interest rates are reacting as well.

We haven't seen fixed mortgage rates this low in over a year and if the trend continues we could see rates break two year lows in a matter of days!

Technically speaking, mortgage rates are ready for a "correction" and they could move back up; but if you have the ability to lock something in for the next 30 days it would be a wise move to do so right now.