Rates Have Bottomed and Are a Thing of the Past

I think rates hit a bottom a month ago and are now a thing of the past. Borrowers reset your mindset; rates are still at 40 year lows even with a .5 point across the board increase.

Mortgage rates rose in the afternoon, after beginning the day unchanged to slightly higher compared to Friday afternoon.  That means lenders recalled their initial rate sheets from this morning and put out new sheets with higher costs.  This is typically a result of market volatility and today is no exception as market participants are anxious for Wednesday's FOMC Announcement and press conference.  The revised rates in the afternoon are in line with Thursday's offerings, suggesting best-execution rates between 4.125% and 4.0%