It’s bee a while since I have published a chart and today seems like a pretty good day to paint the technical picture of the secondary mortgage market.  I’m not too interested in the complete two year picture illustrated here, other than to show the rapid rise in mortgage pricing during the month of January, and the point at which three previous price accelerations capped out.  Though I hope that pricing rates continue to fall, I do feel we are currently topped out and due for a correction.  I don’t know how soon that will happen or to what extent the pricing will decline, but I believe that the “equal and opposite” law of motion will apply for at least the first few week as investors look to capitalize on the run up. We are already starting to see the little car going over the edge of the track as I finish typing this…