Interest Rates Up

As of Monday, the futures market was pricing in an 87% chance the Federal Reserve would raise rates in May by another 25 basis points. Also as of Monday, the futures market was pricing in a 45% chance that the Fed. will raise rates by an additional 25 basis points in June, which would bring the fed funds rate to 5.25%. Now that the NAR has released the existing home sales data for March, the futures market thinks that there exists a 56% chance of the fed increasing rates in June by another 25 basis points.

More...