Have Interest Rates Finally Peaked?

[Justin Hammerle]

The Fed increased its benchmark federal-funds rate again this Wednesday which will now range in the 5-5.25% representing a 16-year high.  Some economists are claiming that this raise was already priced into current mortgage rates ranging in the 7s hinting to a possible natural decrease to the low 6s without any further action.  The Fed's narrative was no longer clear with regard to additional needed increases; it seems in my view that the priority has shifted from cooling raising inflation and employment to monitoring banking sector stress and credit conditions.  I am not one to call a top but are we finally there?

Next Fed meeting is scheduled for June 13-14th, I'll be a very interested listener.