The Secondary Market Overview: From Bonds to Production ... Why Did They Go Up?

Why did they go up? There have been two important messages delivered on a consistent basis from this column. First, no one can predict the future, and second, you must be prepared for the future. An expert is not in position to predict the future. An expert is in position to know what could affect the future. An expert is also prepared for what could happen in the future. Last month, I discussed the need to be prepared for the transition from a refinance to a purchase market. I certainly was not predicting that rates would go up immediately. However, it did happen.Click to continue