Mortgage rates: Volatile, Lock Short, Float Long MBA reports mortgage applications up despite historic climb in mortgage rates. Overnight foreign markets take the same tumble that US markets felt yesterday. Look for another messy trading day. Here comes the run on hedge funds--$43 billion in September. JPMorgan, Wells Fargo, State Street--report profits, Citigroup and Merrill Lynch show losses. Bernanke says long recovery ahead. Consumers skeptical of bailouts' effectiveness. Bottom line … [Read more...]