Mortage Rates Rise

Despite the Fed cutting the short-term rates, mortgage rates are rising according to Bankrate.

The confirming 30-year fixed mortgage rate rose to 6.12%, the 15-year rose to 5.7% and the average jumbo 30-year rate is 7.52%.  

Are inflation and mortgage risks catching up with the mortgages?  For those who think housing has bottomed, we still have a long way to go.  

According to Goldman Sachs, we are only half way there.  Now just assume what happens if the mortgage rates go up and there are more layoffs.

http://www.marketwatch.com/news/story/fixed-mortgage-rates-cross-6/story.aspx?guid=%7B067E54F4%2D3F57%2D4385%2D8556%2D591232ECC8A9%7D&dist=msr_1