Mortgage Rates Rising Back Toward Long-Term Highs

Mortgage Rates Rising Back Toward Long-Term Highs

Post Fed Weakness Keeping Markets on Edge Wednesday's Fed reaction reverberated through overseas markets overnight.  While the Fed didn't inspire any changes in foreign central bank policy, foreign central banks remained on-message with rate hikes and hawkish comments.  Ironically, the overseas bond market weakness (arguably taking cues from US bond weakness) ends up helping to set the tone for early trading in the US.  Domestic data didn't matter despite ISM typically being a market mover (internals offset the headline, and the headline was "close enough").  More importantly, it's next week's CPI that dominates the outlook with tomor