Fed foolish to raise rates now

The credit markets have concluded that inflation risk now forces the Fed into a sustained series of increases in its overnight rate, presently 2 percent.

Interest rates -- all of them -- spiked in the last 10 days. Lowest-fee 30-year mortgages to 6.625 percent (if you're a shady character, FICO under 720, make that 6.75 percent), 10-year T-notes to 4.2 percent, and Fed-tied 2-year T-notes to 2.9 percent (up 0.55 percent this week).

more...

To continue reading sign in to your Premium Member account.

Premium Members have full access to all news archives.

Buy Now Purchase 1-year Premium Membership - $149.95

OR

Buy Now Purchase Monthly Premium Membership - $19.95

All rights reserved. This article may not be used or reproduced in any manner whatsoever, in part or in whole, without written permission of Inman News. Use of this article without permission is a violation of federal copyright law.