Freddie Mac’s 30-year mortgage commitment rate keeps on rising. Now to 3.17%.
This is happening at the 10-year Treasury yield continues to climb.
Note that interest rate volatilty (SRVIX) surged and remains elevated compared to equity volatility (VIX).
(Bloomberg) — Federal Reserve Chair Jerome Powell said the U.S. central bank would wait until the economy has “all but fully recovered” to pull back the extraordinary monetary support it rolled out in response to the coronavirus pandemic.
Which will not happen until governments cease their small business-crushing lock downs, of course.
Aka, keep on printing! M2 growth YoY now up to 27.1% YoY.
Fed Chair Jerome Powell, the monetary shaman.