Mortgage rates !So excitting!

CHICAGO (MarketWatch) -- Mortgage rates rose sharply last week, and the volume of mortgage calculator applications filed fell a seasonally adjusted 16.2% compared with the previous week, the Mortgage Bankers Association said Wednesday.
Applications were up an unadjusted 14.4% for the week ended May 29 from the comparable week in 2008, according to the Washington-based MBA's survey, results for which were adjusted to account for the Memorial Day holiday.
Mortgage rates lenders see fluctuating average mortgage rates and they also notice the the 10 year treasury yield has been in an uptrend for months. I am not saying that the lenders are going to try to screw you out of money, but they are not stupid. They realize that mortgage rate trends may be reversing and that we could see rates in excess of 6% soon. The fact that inflation is a possiblity has also played a part in this artificial mortgage rates market. The last time we saw huge inflation, mortgage rates went to 17%. I seriously doubt that will happen again, but it sure is on peoples minds.