Higher Rates Hammer Home Buyers—and Make Mortgage REITs Lucrative for Investors

It’s instructive and often amusing to see how the popular media cover economic and financial news. You can get a handle on the public’s sentiment from how they treat those topics, which usually varies from awe to alarm. At other times, the reporting provokes eye rolls, or worse.

On the latter score, on the evening network news—still watched by a few fossils, judging by the ads aired for meds for an array of maladies besetting those in their dotage—following the Federal Reserve’s interest rate increases, announced Wednesday, we were informed that the central bank’s action would further raise mortgage costs for prospective home buyers.