MBS Day Ahead: Early Close and Big Picture Considerations

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Posted To: MBS Commentary

It's hard to look at the ultra long term correlation between Fed Funds and mortgage rates and NOT be concerned about rates moving higher in 2016. After all, this is the reason that everyone with a keyboard and a twinkle in their eye has seen fit to proclaim the inevitably higher rates in 2016. Sure, they proclaimed it would happen in 2015, but now their contention is that things just got started a bit later than they expected. But hey! They could be right this time. In my mind, the more interesting question is what does the end of 2016 look like? Bill McBride at Calculated Risk has done a great job of pointing out the absence of near term recession risks (despite a bit of a surge in recession speculation in some news clips and websites). I quite agree that nothing looks recessionary in...(read more)

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Source: http://www.mortgagenewsdaily.com/mortgage_rates/blog/546150.aspx

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