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Banks also have started to raise mortgage rates on new loans.
It will very slightly raise mortgage rates, bond yields, and so on, and that will slightly dampen economic activity.
"If you raise mortgage rates two and a half points from their lows, we're going to find out the consumer is overindebted," Mr. Paulsen said.
Five major Japanese banks announced today that they would raise mortgage rates by as much as eight-tenths of a percentage point next month, the first sign that soaring interest rates here will squeeze the already embattled Japanese consumer.
But higher interest rates on Treasuries make it more expensive for the government to borrow trillions in new debt, and they also raise mortgage rates for home buyers, threatening the government's efforts to keep borrowing costs low.
On April 1, about 30 bankers from Louisiana crowded into a room off the Senate floor to press their view that the bankruptcy measure would force them to raise mortgage rates and hurt the very homeowners Congress was seeking to help.
Similar(52)
House prices are falling and it's difficult to raise mortgages".
This was the highest negative reading since May 2009, when prices were heading downwards and the credit crunch was making it hard for first-time buyers and movers to raise mortgages.
This boosted the companies' profits while raising mortgage rates.
This raised mortgage rates and put home buyers at risk of being priced out of the market.
The recent jump in bond yields in some euro-area countries has raised mortgage rates for new borrowers.And low rates need to be balanced against the fact that tighter credit conditions make it harder for homebuyers to get mortgages.
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CEO of Professional Science Editing for Scientists @ prosciediting.com