Rates on the Rise

I was reading in the newspaper that the
interest rates are on the rise! I don't know
much about that kind of stuff but it seems
like they should stay lower until the economy
started doing a lot better!
The paper also said that now is a good time
to buy a house, but maybe not refinance.
I didn't get that either!
I guess I am doing a lot worse than anyone looking
to buy or refinance! I am still renting!!!