‘We take the unpopular stance that a bond-market crisis would be a good thing’: Wall Street is losing its patience with government debt
Everything you need to know before you reach the office this morning.
Fortune AI8 min read
Mortgages
3 stories
Mortgage rates approach 3-year high as new applications plunge
Mortgage rates spiked to their highest level in nearly three years, continuing their climb above the 7% threshold. Why it matters: Housing sales were already slow due to a lack of inventory and elevated rates, creating a risk that the market could further its freeze.Zoom in: The weekly average…
Axios AI+2 min readThe Fed's long-term interest rate problem
The relentless rise in long-term interest rates is starting to have effects on more parts of the economy, Kansas City Fed president Jeff Schmid told Axios Thursday."You're starting to see some friction in some of the long-market users of credit," he said, pointing to multifamily housing and…
Axios AI+2 min read
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