You know that relaxing, euphoric feeling you have on vacation and then you come home, reality sets in and the weight of the world is again on your shoulders? Well it’s worse today because I haven’t even been on vacation. The pink line in the above graph represents the average price for a pool of mortgages sold on the open market over the last 200 days and serves as the largest and most stable level of psychological support for banks and fund managers with regard to the future. This morning, we blew past it. In my mind, if we do not see a rapid and convincing rebound today or tomorrow, interest rates will rise above 4.0% in the next fortnight (I think that’s still a word). Another bit of rain on your parade this morning: Loan To Own is out of down payment assistance money for the Utah County program until September.