I don't understand the fascination with the prevailing rate.. if rates are "too" high, housing prices will adjust lower.. if they don't move lower then the clearing price is telling you that there is equilibrium. Net funding/carrying cost of the house should be compared to the equivalent rental.. that's the calculus.. if it makes sense, then buy, if it doesn't , rent and INVEST the net difference.
@SwingTraderQ I don't see why the message would be dovish.. they could make the case to hike at this meeting.. the hawks will cast dissents against the pause .. I think the relief doesn't come until we get the QRA from Treasury the following week. Good luck