In an industry accustomed to turbulence, the current mortgage environment presents a peculiar contradiction. Lenders and capital markets teams express an uneasy confidence, aware that even a sure thing in today’s environment can shift overnight. The result is a paradoxical moment in which everyone knows what might happen, yet few genuinely trust it. I'm focused on staying optimally hedged and hoping only for calm. Movement up or down matters less than avoiding volatility. This reveals the...