Rates holding is good news for housing

  • The most reassuring sign for mortgages and housing: a damaging report did only modest harm.
  • However, the credit markets have overdone their hope for “no-Fed” for the rest of 2016. Data is strong enough that the Fed will have to take out some insurance -- probably not at its meeting on the 16th, but April and summer on the table again.

The most reassuring sign for mortgages and housing: a damaging report did only modest harm. The 242,000-job surge in February payrolls could have blown us up, but the 10-year T-note today is 1.90 percent, mortgages still in the high 3s.