The Fed is hellbent on continuing to raise rates. Stock market isn't digging it at all. Growth is questionable for 2019 despite a solid 2018. The 10yr is off 50bps in what, 30 days when it appeared that it would easily stay above 3. Looks like long term rates will hover in and around 5% for the foreseeable future. I for sure thought 6% money was going to exist next year.
I got in the business in 95'. We never seem to raise rates to their previous high's but always cut them below their previous low. This has been the trend for almost 30 years.
BTW, I just talked to a resi broker here in San Diego. He says he's busy doing BPO's and listing short sales. Yeah, that happened fricken fast!!! 6mo ago who thought short sales would be a new trend in SoCal for sale housing.
I'm so confused at the moment.