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It was a busy week for economists, policymakers, consumers and mortgage professionals.
We had a surprise .75% rate cut from the Fed.
We had the announcement of an economic stimulus package that included not only significant tax rebates, but a temporary increase in the conforming loan limits from $417,000 to $729,750 (a huge, huge win for Californians).
We [...]

The swing in mortgage rates over the last week has been astronomical. Some mortgage products popped higher by one-half-percent Wednesday afternoon. You can exactly when it happened on the chart. And those losses continued through to Thursday, too. As money...