If you're buying a home, playing the interest rate market like the stock market isn't what you should be doing.  However, knowing what causes mortgage interest rates to move, up or down, at least helps you to understand what's happening in the markets and why.  

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PITI stands for Principal, Interest, Taxes and Insurance.  It is what most mortgage payments end up incorporating, as the lender is placing money into escrow to pay your taxes and insurance when due.  

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In my previous post, we looked at the first five "myths" the Cleveland Federal Reserve Bank explains and refutes in the article by Yuliya Demyanyk, an economist with the Fed.  Let's look at the last five of the ten myths now:

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