The poor real estate agents and mortgage brokers out there.

They have suffered for the past few years as housing prices have dropped and buyers demand has withered, now are looking at the potential for mortgage rates to start climbing.

The federal government has been pumping money into the economy at a blistering pace with the project debt just this year being 1.75 trillion dollars. This week the bond markets reacted with rising interest And with long term bond rates increasing mortgage rates are sure to follow.

Rising mortgage rates means homebuyers will have an even harder time qualifying for a loan.

• Meaning less homes will sell.
• Meaning that the recession that started in the housing market will continue.
• Meaning selling homes will continue to be a challenge for agents and mortgage brokers.

This could drive any agent to distraction.

“The bear market that has been in Treasurys has finally had an impact on something and that’s a big deal,” said Ader, who heads rates strategy at RBS. “It means mortgage rates are going up, and that brings into question and challenges the housing market recovery…and the economy.”

“What it also does, I think, is prove something of a problem for the Fed because the Fed has spent a lot of money to buy mortgages and keep mortgages rates down, and spent a little money to buy Treasurys and ease the sell off,” he said.

“They feel the housing market is fragile and this could hurt its recovery, and it will. It may encourage them to be more aggressive at buying Treasurys. We are, not deliberately, but provocatively, challenging the Fed here.”  via  CNBC.com.

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