CHART OF THE DAY: Mortgage Rates Just Hit A Four-Month High

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Rising rates may be a sign of an improved economic outlook, but this won’t help: 30-year mortgage rates just hit a four-moth high according to Zillow (via PragCap).

This might be seen as a failure of the Fed, but then, they are purposely not buying many long-end Treasuries, so this can’t be too surprising to them.

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