#housing market

The Fed sets an overnight rate. Your 30-year mortgage is priced off the 10-year Treasury plus a spread that nobody at the Fed controls. That's why rates have gone UP after cuts, more than once, and why waiting for the Fed is a losing strategy.

Rate lock-in, zoning reform, demographic demand, and CRE bifurcation are all moving at once. Here's how to read the real estate market when the signals are this mixed.