If anything, it needs to be taken as a warning of possible economic slowdown. The 4-week moving average remained over 400,000. It's my lucky day. I may as well go home. This is fallout from the end of the bull market for Treasuries.
Mortgage rates are likely to continue to rise at an nearly imperceptible rate.
Overall, rates are still low and even though folks may have missed the opportunity for the best rates there are many who should still refinance. Nothing about mortgage but a striking statistic from 1stQ 2001 - the number of customers subscribing to Internet service declined for the 1st time in 20 years. This has nothing to do with Al Gore. It is likely that the majority of these free accounts will disappear before the end of the year. Home and corporate DSL access has eliminated the need for dial-up connections.