Mortgage rates rise sharply from last week’s record low

The lowest 30-year fixed mortgage rates in modern U.S. history imploded midday Monday, moving sharply higher. Many mortgage lenders raised their rates several times on Monday, Tuesday and Wednesday.
A well-qualified borrower could get a 3% rate on a 30-year fixed rate without any closing costs on Monday morning. Absolutely astounding! By Wednesday afternoon many lenders were offering that same no-cost loan at 4% or even higher.
The 10-year Treasury bond yield (which 30-year mortgage rates tend t