Why So Serious About Mortgage Rates? They're Just Playing Games!

A Little Anarchy in the Bond Market

Greetings Gothamites! Or should I say 'home buyers?' The bond market that oh so serious place seems to have lost its sense of…well seriousness! Wars economic woes…you name it they're all throwing a party and the bond market is just standing in the corner awkwardly shuffling its feet. It's like I always say 'Introduce a little anarchy. Upset the established order and everything becomes chaos. I'm an agent of chaos.'

Mortgage Rate Tango: 6.88%? Why Not 6.66%?

Last week those lovely mortgage rates waltzed their way up to 6.88%. A veritable rollercoaster of…mediocrity! Points decreased but who cares? It's all part of the game see? And what is the game you ask? The game is pure unadulterated chaos. After all it's not about the money... it's about sending a message. Everything burns!

Joel Kan: The Straight Man of This Comedy

Ah Joel Kan from the Mortgage Bankers Association. Such a serious fellow! He says the Middle East the economy and the FOMC meeting are to blame for…slightly lower Treasury rates. 'Slightly lower?' Oh Joel you slay me! Why so serious? Just smile and tell me rates are going to zero. Zero! Now that's a joke worth spreading. Though he is right everything is proceeding exactly as I have foreseen.

Homebuyers' Dilemma: Stuck in a Bat Cave of High Prices

Poor homebuyers. Trapped between sky high prices and a shortage of homes for sale. It's like being stuck in Arkham Asylum but with a mortgage! No wonder mortgage applications are down. Who wants to play this rigged game? You know madness is like gravity... all it takes is a little push.

Refinancing? A Glimmer of Hope (or Another Trap?)

Refinancing applications are up! A whole 3%! Huzzah! But don't get too excited folks. It's probably just another one of those social experiments. See their morals their code... it's a bad joke. Dropped at the first sign of trouble. They're only as good as the world allows them to be. I'll show you when the chips are down these civilized people... they'll eat each other.

A Final Word of Chaos

So what's the takeaway? Mortgage rates are playing games the economy is a mess and Joel Kan is trying to make sense of it all. Sounds like a perfect recipe for chaos! Just remember 'If you're good at something never do it for free!' Or maybe do it for free. It doesn't matter. Ha ha ha! Why don't we cut you up into little pieces and feed you to your pooches? Hmm? And then we'll see how loyal a dog really is. It's not about the money... it's about sending a message.