Latest / The Macro Memo with Fexingo: Daily Conversations on Inflation, GDP, and Federal Reserve Policy
Why the Housing Market Is Mispricing Mortgage Rates
With the 10-year Treasury yield hovering near 4.66% and home prices still elevated, Lucas and Luna unpack a surprising disconnect: mortgage rates are lagging the bond market, and homebuilders are using buy-downs to mask affordability gaps. They walk through the data — including the latest CPI print at 332.6 and the Fed's IOER at 3.65% — to explain why the housing market may be mispricing risk. A focused look at spreads, builder incentives, and what it means for the broader inflation picture. No ads, just smart conversation.
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The skinny
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