TABLE OF CONTENTS
RATE RECAP ⏪
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The +/- shown in the Rate Price Index represents how the pricing of mortgage rates changed during the time series.
Learn more and explore additional time series at the LendZen Index Substack.
WEEK AHEAD 🗓️
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Markets see it as an almost foregone conclusion that the Fed will raise its target rate by 0.25% on Wednesday.
The Fed once again finds itself walking a tightrope between its mandate of price stability and the fiscal profligacy of our government.
That same government exacerbated matters last week with a poorly received bond buyback scheme that failed to stop mortgage rates from soaring to levels not seen since the 2023 breakout.
Unfortunately, the situation in the Middle East, and its impact on oil prices, cannot be fixed by a Central Bank tinkering with overnight rates by 25 basis points.
Nonetheless, the bond market (tail that wags the dog) has given The Fed permission to hike.
The question is, will this make things better, or unleash interest rate Armageddon?
Thanks for reading…
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