How fast will interest rates rise, and what will happen to housing?

Productivity is the way we raise our standard of living, and increased productivity is the result of increased savings and investment -- we don’t have either of those
  • We are still growing, despite negatives in manufacturing and exports, and low energy prices still seem to be doing more harm than good.
  • There have been slim gains in wages -- but very low unemployment, suggesting increases ahead -- and falling productivity.

It was a short holiday week last week, but the argument quietly raged: How fast will the Fed raise the overnight cost of money, and what will happen as a result, especially to mortgages and housing?