Another Fed cut may hurt housing

Commentary: Cheaper money would hike mortgage rates

The September employment report arrived at dawn this morning, in the short term reinforcing economic optimists, dashing hopes for mortgage rates to fall to refi levels (the market is stuck near 6.5 percent), and likely to put the Fed on hold.

In the long run, this week’s economic data settled nothing. Any investor, broker, business or employee plugged into the global engine feels strength and fears nothing but inflation.