Economic uptick sparks interest-rate panic

April job growth flies off the charts

Last summer’s rate panic reached this same point–6.5 percent for low-fee 30-year loans–and then retreated, in nine months back to the sub-5.5 percent record.

This time there will be no retreat–not far, anyway. The bond market is oversold, and due for some “technical” improvement, but there are times when a market should be oversold. This is one of those times.