As lenders continue to deal with change (the latest rumors have Flagstar is selling its mortgage group to Mr. Cooper; rumor only, ask your rep for real information), many people took note when ex-President Trump claimed, during his recent speech, that, “mortgage rates have quadrupled” during the Biden Administration. So, if Agency 30-year fixed rate mortgages were 3 percent, due to the pandemic, not due to political policies, they’d be at 12 percent now. That is not the case. There are still economics to discuss (Fannie Mae’s Chief Economist Doug Duncan will be interviewed today) but politics seem to be sucking up all the air in the room, and no, this isn’t the situation in a historical third-world nation. The presumptive Democratic nominee dropped out of the race one month before his party’s convention. A former president, and 2024 candidate, convicted of 34 felonies in a New York courtroom. A highly controversial Supreme Court decision on presidential immunity. The most consequential presidential debate in U.S. history. An assassination attempt broadcast on live TV. A judge dismissing additional charges against the former president, citing the Supreme Court ruling. It’s political chaos, and it’s far from finished. (Today’s podcast is found here and this week’s is sponsored by LoanCare, known for delivering superior customer experience as a mortgage subservicer through personalization and convenience, and supporting MSR investors with a focus on customer engagement, liquidity, and credit risk. Hear an interview with AXIS’ Michael Simmons that provides a “finger on the pulse” of the appraisal industry and current trends in the valuation space.)