According to activity in the futures market, the probability of a Federal Funds rate hike by the end of the year has jumped from 30 percent in October to 75 percent today.  And with her speech at the Economic Club of Washington yesterday, Federal Reserve Chair Janet Yellen continues to pave the way.

In terms of impact, while the rate for a conforming 30-year mortgage averaged 3.93 percent last week, down 2 basis points from the week before, the yield for 10-Year Treasury notes, off of which the mortgage market tends to moves, is currently trading up 16 basis points for the day.

Source : Socketsite.com