I was expecting to see the same value and associated coordinates that I found from the misfit matrix directly, however the data cursor gave me different coordinates (and whether they're close or not doesn't matter as they should be exactly the same).
I was expecting imagesc() to plot exactly the coordinates I gave it with the associated values it found in misfit. However I found out that the problem stemmed from the fact that imagesc() doesn't actually use the lat/long cooridnate vectors I fed it and instead takes the starting point, the ending point, and the length of lat/long and then constructs the following vector to use as the coordinates of the misfit matrix:
[lat(1):(lat(end)-lat(1))/length(lat):lat(end)]
My problem was to use lat/long vectors that did not have a constant interval (doing a monte carlo search) so imagesc() ended up using its own lat/long vectors and everything got misplaced and skewed. Sorta disappointing imagesc() would act like this, but oh well.
Thank you Walter and Teja for your responses.
PS. Thanks for the tip with min(misfit(:))! I always found min(min(min( ad infinitum was really clunky.