AgentIndustry News

Fed plans more rate hikes in face of ‘red-hot’ economy

Economists brace for fallout from mortgage, construction sectors
Published on Feb 17, 2006

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by CareyBot

Mortgage rates stayed near 6.25 percent this week, but gradually improved in the face of upward pressure from all news.

January economic data have been red hot, but so was the weather, and we really can't tell the extent of distortion by the warmth. The employment gain, the best month for retail sales in five years, the surge in new-home starts and construction permits, today's wholesale "core" prices up by double the Fed's target -- that combination should have pushed long-term rates to new highs.

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