Developed countries should brace for 10-15% mortgage rates. What's concerning is that no technical analyst is discussing the significance of the 32-year break in bond yields. Even worse: We're entering a multi-decade high-yield era, targeting 7% short-term as deficits and tariffs ignite stagflation. Mortgages? Charging toward 10%+, crushing affordability and debt servicing. And in a downturn? Yields will dip temporarily before surging as the Fed battles a stagflation-tumbling stock market with QE, pouring fuel on the inflation fire. Hope this helps.