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Don't Fret Higher Mortgage Rates

It is, however, potentially a key investor sentiment driver, looking forward.

Housing got a lot of negative attention when it was weak, and many feared the U.S. economy couldn't improve meaningfully after 2008 without a strong housing rebound. But now that it's in a legitimate and seemingly sustained rebound, it's not getting an equal amount of positive attention. Instead, many have characterized the rebound as illusory, describing markets with words like "frothy," rather than the real product of rising demand and tight supply.

Some folks have turned more optimistic in recent months, but sentiment broadly doesn't reflect the current strength. As sentiment catches up with reality, it should help carry stocks higher.

This article was written by an independent contributor, separate from TheStreet's regular news coverage.

This article constitutes the views, opinions, analyses and commentary of Fisher Investments as of June 2013 and should not be regarded as personal investment advice. No assurances are made Fisher Investments will continue to hold these views, which may change at any time without notice. In addition, no assurances are made regarding the accuracy of any forecast made herein. Past performance is no guarantee of future results. A risk of loss is involved with investments in stock markets.

This commentary comes from an independent investor or market observer as part of TheStreet guest contributor program. The views expressed are those of the author and do not necessarily represent the views of TheStreet or its management.

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