Wow, what a crazy week in the bond market! Due to increased concerns about inflation, the bond market took a beating for well over a week, causing rates on a 30 year fixed rate mortgage to hit a high for the year by mid-week. Although by Wednesday we experienced a bond rally which looked like we were poised for a turn-around, however, the rally was short-lived, and by Friday we saw most of these gains erased. What happened Friday? The Michigan Consumer Confidence reading shocked the … [Read more...]