Geopolitics Alpha

The real pain from rising interest rates is yet to come

Published . Updated .

Covered by 4 outlets: Brisbane Times, SMH.com.au, The Age, WAtoday.

Key takeaways

  • The number of borrowers who are behind on their mortgage payments is rising, and it’s likely to climb further as rate hikes bite.
  • Exposed: TLT, IEF, JPM, BAC, DHI
  • Market reaction: price tracking starts with the next trading session.

Market Call

Think this story will push the stock up or down over the next three trading days? Make a free call and see what other readers think. Points are play money with no cash value.

Get these market calls by email

The week's biggest market-moving stories, Congress trades and Trump posts, with the tickers they touch. Free, one email a week.

Free. We only use your email to send the digest, never sell or share it, and every email has a one-click unsubscribe link. See our privacy policy.

The real pain from rising interest rates is yet to come

The number of borrowers who are behind on their mortgage payments is rising, and it’s likely to climb further as rate hikes bite.

Directly affected

  • No company is named in this report.

Indirectly affected

  • TLT iShares 20+ Year Treasury Bond ETF

    iShares 20+ Year Treasury Bond ETF: Treasury bond prices move with interest-rate expectations. Linked by “interest rates” (US interest rates) in this story.

  • IEF iShares 7-10 Year Treasury Bond ETF

    iShares 7-10 Year Treasury Bond ETF: Treasury bond prices move with interest-rate expectations. Linked by “interest rates” (US interest rates) in this story.

  • XLRE Real Estate Select Sector SPDR

    Real Estate Select Sector SPDR: it holds property and homebuilding stocks. Linked by “mortgage” (real estate) in this story.

  • JPM JPMorgan Chase

    JPMorgan Chase (national commercial banks): rate changes move lenders' margins and borrowers' demand. Linked by “interest rates” (US interest rates) in this story.

  • BAC Bank of America

    Bank of America (national commercial banks): rate changes move lenders' margins and borrowers' demand. Linked by “interest rates” (US interest rates) in this story.

  • DHI D.R. Horton

    D.R. Horton (operative builders): rate changes move lenders' margins and borrowers' demand. Linked by “interest rates” (US interest rates) in this story.

  • SCHW The Charles Schwab

    The Charles Schwab (security brokers, dealers and flotation companies): rate changes move lenders' margins and borrowers' demand. Linked by “interest rates” (US interest rates) in this story.

  • PLD Prologis

    Prologis (real estate investment trusts): housing and property firms move with mortgage rates and demand. Linked by “mortgage” (real estate) in this story.

Price reaction, T-5 to T+3

TickerT-5T-3T-1T0T+1T+2T+3
TLT+3.26%+1.97%baseafter closeafter closeafter closeafter close
IEF+1.94%+0.99%baseafter closeafter closeafter closeafter close
XLRENo price data for this ticker———————
JPM-1.26%-0.84%baseafter closeafter closeafter closeafter close
BAC-0.84%-0.69%baseafter closeafter closeafter closeafter close
DHI+6.91%+1.29%baseafter closeafter closeafter closeafter close
SCHW-0.25%-0.20%baseafter closeafter closeafter closeafter close
PLDNo price data for this ticker———————

Closing-price change versus T-1, the last close before the story. T0 to T+3 fill in after each market close. Prices: Alpaca IEX.

The real pain from rising interest rates is yet to come Brisbane Times

Source: Brisbane Times

Ishares Tr (TLT) since this story, compared with the market

CompanyWhenMoveStatus
Bank Of America (BAC)three days earlier-0.69%final price
Bank Of America (BAC)five days earlier-0.84%final price
Horton D R (DHI)three days earlier+1.29%final price
Horton D R (DHI)five days earlier+6.91%final price
Ishares Tr (IEF)three days earlier+0.99%final price
Ishares Tr (IEF)five days earlier+1.94%final price
Jpmorgan Chase (JPM)three days earlier-0.84%final price
Jpmorgan Chase (JPM)five days earlier-1.26%final price
Schwab Charles (SCHW)three days earlier-0.20%final price
Schwab Charles (SCHW)five days earlier-0.25%final price
Ishares Tr (TLT)three days earlier+1.97%final price
Ishares Tr (TLT)five days earlier+3.26%final price

Trades by members of Congress and officials in the stocks in this story

Public disclosure filings, not a recommendation. The filing link is the source document. News use of these reports still sits under 5 U.S.C. § 13107(c).

Who gains and who loses around Ishares Tr (TLT)

Companies carried with this story

  • TLT Ishares Tr

    In “The real pain from rising interest rates is yet to come,” Ishares Tr (TLT) is linked, with no stored direction, medium confidence. Reason on file: iShares 20+ Year Treasury Bond ETF: Treasury bond prices move with interest-rate expectations. Linked by “interest rates” (US interest rates) in this story

  • IEF Ishares Tr

    Ishares Tr (IEF) is linked, with no stored direction, medium confidence in the 15 Nov 2026 story “The real pain from rising interest rates is yet to come.” Reason on file: iShares 7-10 Year Treasury Bond ETF: Treasury bond prices move with interest-rate expectations. Linked by “interest rates” (US interest rates) in this story

  • JPM Jpmorgan Chase

    Jpmorgan Chase (JPM) is linked, with no stored direction, medium confidence in the 15 Nov 2026 story “The real pain from rising interest rates is yet to come.” Reason on file: JPMorgan Chase (national commercial banks): rate changes move lenders' margins and borrowers' demand. Linked by “interest rates” (US interest rates) in this story

  • BAC Bank Of America

    In “The real pain from rising interest rates is yet to come,” Bank Of America (BAC) is linked, with no stored direction, medium confidence. Reason on file: Bank of America (national commercial banks): rate changes move lenders' margins and borrowers' demand. Linked by “interest rates” (US interest rates) in this story

  • DHI Horton D R

    For “The real pain from rising interest rates is yet to come,” Horton D R (DHI) is linked, with no stored direction, medium confidence. Reason on file: D.R. Horton (operative builders): rate changes move lenders' margins and borrowers' demand. Linked by “interest rates” (US interest rates) in this story

  • SCHW Schwab Charles

    Schwab Charles (SCHW) is linked, with no stored direction, medium confidence in the 15 Nov 2026 story “The real pain from rising interest rates is yet to come.” Reason on file: The Charles Schwab (security brokers, dealers and flotation companies): rate changes move lenders' margins and borrowers' demand. Linked by “interest rates” (US interest rates) in this story

How “The real pain from rising interest rates is yet to come” reaches Ishares Tr (TLT)

Ishares Tr (TLT) is the company in “The real pain from rising interest rates is yet to come,” the 15 Nov 2026 this story story.

For Ishares Tr (TLT), the reason on file says iShares 20+ Year Treasury Bond ETF: Treasury bond prices move with interest-rate expectations. Linked by “interest rates” (US interest rates) in this story

Ishares Tr (IEF) is here too. Its reason reads: iShares 7-10 Year Treasury Bond ETF: Treasury bond prices move with interest-rate expectations. Linked by “interest rates” (US interest rates) in this story

The price range for Ishares Tr (TLT), and the dates in the story

IEF traded between 88.67 and 90.69 across 12 sessions. The latest close on file is 90.08. JPM traded between 325.12 and 345.73 across 20 sessions. The latest close on file is 338.00. TLT traded between 76.44 and 80.56 across 12 sessions. The latest close on file is 79.46.

How solid “The real pain from rising interest rates is yet to come” looks

69 out of 100

“The real pain from rising interest rates is yet to come” scores 69 out of 100. The score uses 4 sources, and 6 linked companies.