Worst 24 Hours For Rates So Far This Year

Tariff volatility giveth and taketh from interest rates .  Up until Friday afternoon, it's been mostly "giveth-ing."  In other words, the prospect of trade wars between the US and numerous foreign countries has generally caused weakness in the stock market and strength in the bond market (stronger bonds = lower rates).  That pattern began breaking down on Friday, although it wasn't apparent at the time because mortgage rates still managed to close at the lowest levels of the year. Notably, though, rates began Friday at even lower levels. Lenders were forced to increase rates in response to bond market weakness. That weakness kicked into overdrive Today. While there was certainly some volatility surrounding news headlines that were less than credible (specifically, that Trump was