Absolutley. Our economy has grown and has been string over the past several years as is. Rates going up, gas going up and we will see a drop in consumer spending. The rates should be left alone... I don't mind paying an extra $1 for each gallon of gas but when you start messing with peoples ability to get an affordable mortgage... Then you create problems.
I'll do less spending if I have to pay an extra $100-200 a month to get a mortgage.