Surging home prices have primed the housing market for this.
Fed’s monetary policy shift is finally taking hold. It just took a while.
But something funny happened on the way to the headlines.
Market still blows off Fed, Treasury selloff, and volatility in stocks.
A very crowded trade goes begging for a contrarian reaction.
Chorus gets louder. But no one will be ready for those mortgage rates.
With a sense of urgency. No more dilly-dallying around.
Just as the Fed accelerates its QE Unwind. Treasuries reacted.
But some flat spots are showing up!
And how would the housing market digest these kinds of mortgage rates?