Mortgage rates are still in the same narrow band they’ve been in since the holidays: 6.125 percent, plus or minus a debate about closing costs, but no points and no origination fee.

This narrow range should not be confused with stability.

In the last two days, concerns about Iran have overwhelmed everything; but, before laying out the market implications of that one, everything else first.

At the top of the list of standard economics is the standoff between the bet on economic slowdown and the one that all is well.

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