Because of the government shutdown, analysts predicted mortgage rates across all types of loan programs would spike up and remain at a high level. A week after the shutdown ended, however, trends significantly reversed; specifically, rates reached a four-month low.

According to Freddie Mac, the average rate for a 30-year-loan dropped down to 4.13 percent from 4.28 percent a week before. Rates on 15-year loans fell from 3.33 percent to 3.24 percent over the same period. One-year adjustable rate mortgages, as well, saw rates similarly dip from 2.63 to 2.6 percent.

All changes come as the result of the Federal Reserve slowing its bond purchases. Mortgage rates started declining in September and this week reached their lowest point since June 20.

Fees changed for all three types over the same period. For 30-year, fixed mortgages, this meant a drop from 0.8 to 0.7 point, while 15-year mortgages went from 0.6 to 0.7 and ARMs also increased from 0.4 to 0.5.

Nevertheless, rates made a steep increase throughout 2013. If you can recall, rates jumped from 3.4 percent in early May to four percent by June. Record-low rates from earlier in the year helped boost the recovery, with more borrowers starting applications. Simultaneously, increased mortgage rates mean fewer borrowers are less likely to refinance, and likely as a result over the summer, fewer homeowners filed refinancing applications.

Around this time last year, rates on 30-year mortgages decreased to 3.31 percent. Between that point and April, interest rates moved around the 3.4 percent mark.

Last week, analysts predicted that mortgage rates would drastically and quickly increase once the government exceeded the debt ceiling. All types would be affected, from fixed, 30-year rates to ARMs. Along with sharply increasing, rates would remain high for a while, or at least until the government decides to put a payment plan for its debts in place.