US 30-year mortgage rates rose to 4.32% (Bankrate) as the 10-year Treasury yield broke through the 2% barrier. This is happening as Fed Funds Futures are pointing toward 6+ rate increases over the coming year.
Actually, Fed Funds Futures are pricing in 7 rate increases over the coming year.
At least all is quiet on the commodities front.
So, it appears that Fed Chair Jay Powell will follow-through with numerous rate hikes over the coming year.
I guess Powell is tired of being a low-rate chump instead of a high-rate champ?