Years on a trading desk and hedging locked pipelines teaches one that different things move bonds at different times. Right now, rates are still being driven by pandemic news… Yes, rates went up yesterday and this morning, but up until then, many analysts found it odd that the bond market, which drive mortgage rates, continued to seem to shrug off inflation news. The old adage, “Don’t fight the Fed” is true. The Fed has made its intentions clear, and no, rates don’t move up or down in a straight line, but no one should be surprised if mortgage rates are higher in six months than they are now. Lenders with marginal branches and MLOs are focused on making them better and increasing their revenue… or else. Speaking of revenue, thank you to Nevada’s Guy S. for pointing out the Internal Revenue Service (formed in 1862, officially named in 1918) explaining in a helpful list of tax tips shared online: “If you steal property, you must rep
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