As traders went home for the weekend, and as Iran paraded its nuclear ambitions to the press, gold dropped below $600, oil gained to $68, and stock indices fell.

All three signs tend to push mortgage rates lower, but this week, traders zigged instead of the usual zag.

If there's a lesson in here, it's that mortgage rates have a mind of their own. 

History is a terrific guide for the future of mortgage rates, but it can't be any more than that.  If you rely solely on history to predict where mortgage rates will go, the markets will treat you with the arrogance of Elijah the Prophet at a Passover seder.

Dan Green is an active loan officer. Email or call 513-443-2020. Dan is on Twitter at @mortgagereports.