I’m a big fan of the show Chopped. Chefs are given a mystery basket of ingredients from which they must make an entree. Soon we may be opening that basket to find one less ingredient (the fixed rate standard). You still have to get a finished entree out of the oven so what do you do? You adjust the recipe and improvise. It appears the super sweet fine grain sugar of the standard fixed rate is flying off the shelves and it’s return is uncertain. Brokers, lenders and loan officers are now faced with selling a new product mix and perhaps focusing on a new breed of borrowers.