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Welcome to the Yo-Yo Economy!
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It's been a rough week for the mortgage market. On Wednesday, May 4th, rates reached their highest levels in more than a decade. Then on Thursday, May 5th, they reached their lowest levels of the week.
And before we knew it, we were back to where we started: with rates at their highest levels in more than a decade. The volatility was in response to various Fed announcements and bond market movements.
Some analysts say this is a sign that rates are finally stabilizing and could head lower soon, while others think it's just another blip on the screen. It seems like we can't take anything for granted anymore! It will continue to be Yo-Yo!
Ayyo Rama! Holy Jesus! Allah Bachaye!
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