Despite the latest hawkish tone that drove oil down and the dollar up last week, we’re seeing a new tone from analysts and traders who sent oil flying again on Monday.  The dollar also retreated as many believe that the Fed cannot afford to raise rates, even by a quarter point before October.  Mortgage rate markets have been little stirred by this news, but at times it takes a day or two to bake in these things making weekly trends better to follow.  In any event, I stick by my 6% grab em if you can get em philosophy for the 30-year.  Inflation is the beast that will need to be tamed in 2008 and the hawkish tone from the Fed will continue for the rest of the year, in my opinion.  Again pay closest attention to the LIBOR rates.