Interest Rates:  Since the Fed lowered the Fed Funds rate ½% last month we have had mortgage rates climb about ½%.  About half of that move up was from Friday’s employment report that surprised the market with mostly good news on the employment front. If you have ever read any of my letters you should know that Good News is Bad news for interest rates.  There is a bit of a bright side to this. A few Fed Governors have come out and said they still see a need to lower rates and some have even said they are not confident the employment report is accurate, more of a blip on the radar.  Additionally, there is some historic precedence. If you look at the 10yr Treasury has almost always gone up about 3/8ths of 1 percent after the first cut in a cycle. As of today, we are up 0.36% on the 10yr ... 10/09/2024