not going to happen overnight, but this could easily drift back to the 10's and possible the 8's. I was long, but sold my position. not looking to short either, but there is more downside than upside with the Feds change of events.
No, it won't. That's market ignorance redleaf. What pushed this lower was that MMs took advantage of the FED news to avoid paying on the 12, 13, and 14 options for calls today. The housing market is still booming, and the rates are the lowest they've been for decades.
Whoever bought today high or low will get a great ROI in the short run as well as the long run. Except for you redleaf, of course.