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

  • 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?