Rising mortgage rates

I was pre approved for a mortgage a few months back. I was accepted on a special low down payment mortgage at 3.875%. Found a house, it was a short sale, finally went through and now the rate needs to be updated. The loan amount is about 2/3 what I applied for, I have a higher down payment and thus a conventional loan, and my credit score is better than 99% of the country. My new rate is 4.375. So for taking out a significantly smaller loan, having a higher down payment, and in general being less of a risk I get to pay thousands upon thousands of dollars more than just a few months ago for what I can see as no added value whatsoever.



It just seems wrong.

via JREF Forum http://forums.randi.org/showthread.php?t=262715&goto=newpost