One of the biggest lessons of the housing crisis.

Fed's Vice Chair Sees No Tapering Until 2022, Is "Not Concerned" With Surging 10Y Yields.

The banks ALWAYS tried to front run the Fed and got slapped down every single time.

You see.... the banks can't control themselves - so every time things started to look good, interest rates spiked. Which ~always~ resulted in the Fed not being able to raise rates because of the pulse from the banks. That went on for a solid ten years.

The banks always start raising before the Fed does.

Trump unfortunately has pulled demand forward in the biggest way. All of these headlines about inflation and the 10 year are just theater. And I'm in the market to refi. Even I am still waiting.