The University of Michigan Consumer Survey was released this morning … and it wasn’t good news for housing.  Their index for housing buying condtions declined.

michsenthoud.png

One of causes of confidence loss? The fear that The Fed will raise rates and unwind too quickly.

mortgfed.png

Not to worry with The Fed only unwinding $300 last week.

somanov8

Instead of “Give Me Three Steps,” The Fed is singing “Give Me One Itsy-Bitsy Step” to raise rates.

yellenconfused (1)