Mortgage Rates Could Hit 8% (And The Fed Cant Stop It) [W7K5LOzJLKl]
The 30 year Treasury yield just hit its highest level since June 2007. Here's why that matters more to your mortgage payment than anything the Fed does. Most buyers are sitting on the sidelines waiting for a rate cut that won't move mortgage rates the way they think it will. The Fed sets short term policy. Mortgage rates price off the long end of the bond market. Two different levers. If yields keep running at this pace, 7.5% to 8% by year end is realistic. Dan MacKinnon, Local Life Homes. Serving the Gulf Coast from Clearwater to Punta Gorda. Chart via @kobeissiletter #mortgagerates #housingmarket #sarasotarealestate #realestate #bondmarket