Mortgage rates endured their single worst week in more than10yrs, with 30yr Fixed best-execution rates rising by astaggering 0.625% through the course of the week. Theextreme volatility following Wednesday's FOMC events meantthat lenders' rate sheet offerings were heavily stratified. Somemoved more than others, and at different times, with strategieschanging frequently during the last 3 days of the week. ByFriday, most were in a range of 4.5 - 4.625% for an idealscenario."Having given the 'Black Wednesday' title to what had been theworst day in the modern history of mortgage rates, I feelqualified to say that the last three days have been moreapocalyptic. There was always a chance of a big move in eitherdirection this week, but it surpassed expectations. Many haveasked what's next, and although there are logical reasons toexpect some retrenchment next week, we can't rely on logic totime the bottom of a market whose motivations transcend logic.Past examples of similar moves have ranged from 3-6 days onaverage before catching breath. "