Economist Julia Coronado said higher interest rates are here to stay, calling the pain in housing the necessary cost of bringing inflation down. Speaking on Marketplace Morning Report, Coronado noted the most recent Fed hike was unanimous, which she said removes the strongest early signal that a pivot is being debated inside the room. The federal funds upper bound sits at 4.00% as of September 22, 2026, the 10-year Treasury yield closed at 4.96%, and WTI crude has climbed to $107.02 a barrel, while core PCE keeps drifting up. Existing-home sales fell to 3.98 million units annualized in August, the lowest print in a year, and Rocket Companies CFO Brian Brown said on the Q2 2026 call that the expected housing recovery in 2026 has not materialized, guiding Q3 adjusted revenue to $2.5 billion to $2.7 billion. Rocket shares closed at $12.74, down 34.19% year-to-date, even as its $2 trillion servicing book holds $320 billion in above-6% mortgages ready to refinance if rates fall.
Rocket Companies IncEconomist says high rates are here to stay, keeping mortgage rates elevated and prolonging the housing pain that is crushing Rocket's originations.
