Comment: Job, Wage Gains May Cover Increase in Mortgage Rates

Bloomberg Opinion, Aug. 31, 2022–Conor Sen
The housing market has been searching for balance ever since mortgage rates rose above 5 percent in April. In his speech at the Jackson Hole Economic Symposium, Federal Reserve Chairman Jerome Powell suggested interest rates will be elevated for a sustained period, dashing hopes that a pivot in monetary policy could lead to lower mortgage rates in 2023.