Michael Pond
Michael Pond
clarity compared demand direction either expect gain gains housing market momentum overall rate relatively remains trend until weaker
I don't expect the market to gain momentum in either direction until it gains new clarity about the possibility of a May rate hike. The overall trend in housing demand remains relatively weaker compared with 2005.
driven fed likely market move today view
The big part of the move today is driven by the view that the Fed will likely go more than what the market had thought.
headed higher people pricing rates
This confirms our expectations that rates should be headed higher here as people are pricing in a more hawkish Fed.