Why mortgage rates are rising

Faster. Better. Together.
Inman Connect San Francisco, Jul 16-20, 2018

Two things this week: Explain the sudden rise in Treasury and mortgage rates, and then provide a simple tool for understanding budget issues in the election. Nuthin' to it. In the last two weeks the 10-year T-note has run up from 1.45 percent to 1.85 percent, taking many mortgages from below 3.5 percent to above 3.75 percent. Explanations offered by sharpies: The economy has turned for the better, no longer sliding toward recession. Or because the Fed will not soon begin QE3, either because the economy is better, or because it won't do any good, or because of the election, or because of internal politics. Or rates have risen because Europe might save itself. Put all that eyewash in a bucket. Then dump the bucket. July's 0.8 percent upwobble in retail sales is not a "turn" -- not with the Philly and N.Y. Feds' indices sinking, not with the National Federation of Independent Business optimism index returning to recession threshold, not with eurozone gross domestic...