Mortgage rates went down this week; here's why

  • Vice Chair Fischer said the market estimation of future rate hikes is “too low,” and four hikes this year are “in the ballpark.”
  • The Fed is desperate to get the cost of money up toward 2 percent at minimum, justifiably worried that it can’t be caught down here when we have the inevitable rebound in energy prices.

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Jobs up, economy better, which reinforces Fed tightening ahead, but mortgage rates went down this week. The world today is one huge furball of disconnections like this, and the mission below is to unravel the tangle into understandable threads.