This clip is from a local Sunday paper's business section.  It illustrates why researching mortgages can be confusing (and annoying).  We look to our newspapers to tell us the truth; to provide indisputable facts. In this case, MSM=FAIL.

Aside from the spelling mistake in the headline, it looks like the local editors pulled irrelevant, stock copy written several years ago.  As we've shown here, here, and -- my favorite example! -- here, the 10-year treasury note does not directly correlate to the mortgage market.  Nor does the 10-year treasury note dictate when mortgage rates will move.

There's a reason why Americans -- from first-time home buyers to bona fide investors -- hate the mortgage process.  The trusted media is telling them one thing, and loan officers on the street are telling them something else.

Think about your own line of work.  What does the press say about it?  How are the nuances of your job reported on TV and in the papers?  You know this -- it's nearly impossible for a beat writer to truly "get" your business to report your world as it really is. 

The same thing applies to the world of mortgages.

See, mortgage rates and mortgage lending guidelines are too fluid for most loan officers to keep up.  There's absolutely no way, therefore, that a reporter on deadline possibly could.  It's why you need to question what you're reading -- especially when the word "mortgage" is misspelled in the headline.

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