We must be careful to avoid news like this:
Mortgage applications jumped last week as borrowers emerged in droves to refinance their existing home loans as interest rates fell to their lowest since early December, an industry trade group said Wednesday.
…Consumers tend to be sensitive to shifts in interest rate moves when they are looking to refinance their current home loans.
Too many reports like this and some people might have to admit that incentives matter. We wouldn’t want that.