My guess is that they can and will, but the NYT doesn't seem to agree. In a bit over a month, the 10-year treasury rate has gone from around 4.6 percent to more than 5.25 percent. This rise will be passed on almost one to one in higher mortgage rates. With many people already stretching to the limits to buy homes at their current bubble inflated prices, my guess is that this rise in rates, if it sticks, will be a huge hit on an already weak housing market.
The NYT did not mention the potential impact on the housing market in this discussion of the surge in interest rates.
There's too much at stake this November for us to quit. As we navigate another presidential election year, thoughtful independent journalism is more important than ever. We're committed to bringing you the latest news on what's really happening across the country this election season, shining a light on the stories corporate media overlooks and keeping the public informed about how power really works in America.
Quality reporting doesn't come for free, and we don't have corporate backers to rely on to fund our work. Everything we do is thanks to our incredible community of readers, who chip in a few dollars at a time to make what we do possible. This month, we're trying to raise $50,000 to help fuel our election coverage, and we've fallen behind on reaching our goal. Any amount you give today will bring us closer to making our reporting possible—and a generous donor has agreed to match all online donations, so your impact will be doubled.
