After taking a breather last week, mortgage rates rose again – moving even closer to 7%. Mortgage rates have more than doubled in the past year as the Federal Reserve pushed ahead with its unprecedented campaign of hiking interest rates in order to tame soaring inflation. The combination of the central bank’s rate hikes, investor’s concerns about a recession and mixed economic news has made mortgage rates volatile over the past several months.
But there is still a shortage of available homes for sale in relation to buyer demand, which has kept prices strong. “The consequences are evident in rent growth and high home prices,” said Lawrence Yun, chief economist for the National Association of Realtors. “Even with an anticipated fall in home prices in some markets – principally in California – homes will continue to be unaffordable, while rents are squeezing non-owners.
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Republicans: Inflation, gas prices, mortgage rates, food prices, immigration and so on. Democrats: Abortion and Jan 6.
In other news you won't see on CNN, lastest numbers have inflation at at FORTY YEAR HIGH. Who do we blame? Putin? Trump? Just say the numbers are fake? Wonder why this isn't on CNN for you to hear?
Way to go Joe Biden! BidenInflation BidenRecession
Home values should be coming down at this point.
Mortgage rates used to be in teens. Maybe that prohibited some people from buying, but shouldn't it be more of a privilege to buy a house in the U.S.? So what rates were practically 20% when my parents bought. Everyone is soo entitled and expects to be able to? No you need $$
POTUS says he’s doing a great job for the people! 🤔🤦♂️ yep a great job of pricing them out of everything they need to buy
Mortgage buyer Freddie Mac reported on Thursday that the average on the key 30- year rate climbed to 6.7% from 6.29% last week .
More great news for Joe Biden and democrats SMH. Keep up the great work, its clearly working well VoteRepublican
Do you realize how much this is hurting middle class Americans !!!
Fed officials forecast that they will further raise their benchmark rate to roughly 4.4% by year's end .
Perhaps nowhere else is the effect of the Fed's action more apparent than the housing sector .
Let's go Brandon !
Rise in mortgage rates threatens to sideline even more homebuyers as Americans struggle with the cost of borrowing .
Mortgages rise for sixth straight week .
Waiting for the housing bubble to finally burst! Could be worse than 2008!
US mortgage rates climb to 6.7% , highest in 15 years .
Me, locking up that 2.3%
Lovin the 0.7% here in Switzerland 😝
StopHazaraGenocide
Yep
Mortgage rates should be capped at 5%.
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