MBS Live Morning: Sharply Higher Yields After Another Weekend Head Fake
Today, for yield curve fans, the 3, 5, and 7-year Treasury yields are all above the 10-year yield. But yesterday was the Spring Equinox, aka Vernal Equinox, above the equator. The technical description of this event is beyond the scope of this Commentary, but suffice it to say we continue to have more sunlight in the Northern Hemisphere. Miami has plenty of sunlight, and the influences of Cuban and Central American culture are reflected in this smash hit (7.7 billion views) from a few years ago, written and recorded in Miami. What is the chatter in the hallways of The Mortgage Collaborative event? Even though volumes were up for many lenders, by the time 2021 was tallied, profits were down mostly due to margin compression which accelerated in 2nd half of 2021, becoming even more a
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