Tuesday Benchmark For Unblinking Stares Released

The latest revelation from the hallowed halls of financial prognostication confirms what many have long suspected while staring blankly at their screens: mortgage rates have achieved an impressive, almost imperceptible, new nadir. This remarkable feat, an 11-month low no less, was apparently attained through sheer force of will and a dedication to statistical minutiae that would make a tax auditor blush. Truly, the resilience required to shave off such an infinitesimally small percentage point demands our unwavering, if somewhat confused, admiration.

Our esteemed mortgage lenders are, by all accounts, basking in the glow of their "admirable" performance. It seems they managed to "aggressively price-in" the latest gyrations of the bond market with a speed and precision usually reserved for central bank announcements from the Federal Reserve. One can only imagine the heroic efforts involved in ensuring that any glimmer of market generosity was swiftly absorbed and translated into... well, into rates that are technically lower, but only if you squint hard enough and maybe suspend disbelief. The good news, if one can call it that, is that the benchmark for unblinking stares will remain largely unchanged.