WCF Endpoint does not use provided Https binding

I'm calling an external WCF service and am getting the following error message. "The provided URI scheme 'http' is invalid; expected 'https'. Parameter name: via"

here are the config sections pertaining to the service:

<client>
    <endpoint address="http://ift.tt/WD73l0" binding="basicHttpBinding" bindingConfiguration="RatePortBinding" contract="OdflRateService.RateDelegate" name="RatePort" />
</client>

and the binding Section:

<bindings>
  <basicHttpBinding>
     <binding name="RatePortBinding">
         <security mode="Transport" />
     </binding>
  </basicHttpBinding>
</bindings>

The assembly is calling the service is loaded into the app through reflection and the configuration values are in the main app web config. I don't know if this makes any difference but thought i should mention it.

Thanks!