Now less than 2 percent away from the 6.80 red line. Fix at 6.6375. Note the fix itself would have been a 52-week high for USDCNY.
This move was largely expected; no major follow on effects from this initial change in the exchange rate.
"The Lock-In Effect of Rising Mortgage Rates"
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Today, in the Calculated Risk Real Estate Newsletter: "The Lock-In Effect
of Rising Mortgage Rates"
A brief excerpt:
Here is new working paper from Feder...
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