On a positive note, well, perhaps a realistic one, we continue to navigate a challenging financial and global market environment.

History consistently shows that these periods of volatility do pass.

As conditions stabilize, bond yields typically move lower, mortgage rates follow, and oil prices tend to settle back down.

Patience and perspective are important and needed.

Where do I see things going from here? Given that we’ve lost nearly 0.25% in interest rate improvement this week, my expectation is that it could take roughly another month for rates to work their way back to the levels we saw prior to the Iran conflict.

Higher oil prices tend to push inflation higher because energy is a core input in nearly everything, manufacturing goods, transporting products, and powering supply chains. When energy costs rise, it increases the cost of producing and moving goods throughout the economy.

As inflation expectations rise, bond investors demand higher yields, which in turn pushes mortgage rates higher in the short term. The good news is that historically these geopolitical shocks tend to be temporary, and as markets stabilize, oil prices and bond yields typically settle back down.

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