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You will notice that over the last two weeks we have had the past two Mondays highlighted by strong buying on the bond market which has driven the 30 year fixed interest rate to 5.875% and then 5.75% this week. However as you will now see, in both cases that rate did not hold through the week. On Thursday and Friday of this week Wall Street came to the conclusion that they were not going to get the .50% rate cut from the Fed that they wanted. Once that happened the blood letting began on the bond market and the 30 year fixed that was once at 5.75% is now at 6.125%. For all those inexperienced loan officers, the look on their faces as they watched the rate changes occur almost every hour for 2 days straight was priceless. Actually there was a price, it was the price that they had to pay to honor the locks that they had committed to and had not taken the time to lock with the investors.

So what does all this volatility

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