Wrong move by Fed could explode bonds, real estate rates

Mortgage market commentary

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Mortgage rates are still holding between 6.5 percent and 6.75 percent for the low-fee deals, but the financial world moved this week into a realm of uncertainty, inflation risk and volatility that we have not seen in a long time.

Early in the week, markets traded in happy belief that the Fed is about to halt its rate increases, perhaps concluding after a 16th hike to 5 percent at its May 10 meeting.