Soaring interest rates and a higher-for-longer policy will take its toll on the economy, according to Fannie Mae’s Economic and Strategic Research (ESR) group.

“The cause of the recent run-up in long-term rates is multifactorial and likely includes some expectation of more resilient economic growth coupled with a higher-for-longer monetary policy stance from the Federal Reserve,” the ESR group said in its latest economic commentary.

After the 10-year treasury yield began July at around 3.8%, rates were about one full percentage point higher three months later. On October 18, the details ⇒

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