Should be a jittery couple of days for MBS pricing ( Mortgage rates) in anticipation of the Wednesday afternoon statement from the FOMC meeting about the future of the Feds bond buying program. This is the primary factor that has been keeping mortgage rates artificially low for the last few years. As the economy starts to pick up steam , the Federal Reserve will probably curtail bond buying. So as Wall Street prepares for this statement to come out , they are driving up the yields on 10 year T Bills.
If they announce that bond buying will cease soon, I feel we will see a dramatic rise in rates. I feel we are headed higher but just how quickly remains to be seen.