CNN: Mortgage rates soar to 7.23%, a 22 year high

please real estate prices crash already

problem is so much of it is owned by companies that don't need a mortgage.

What would you like Biden to do to bring mortgage rates back down?

The issue is that in many areas like California people don’t want to move because their mortgage rate is much lower than they would pay now and people don’t want to buy a more expensive home and pay higher property taxes. So people are staying put and there is very low supply of holes for sale.

as long as unemployment stays at very low levels, there won’t be a big decrease in prices in many desirable places to live.

unemployment levels is much more important to home prices than mortgage rates.

OP has a thorough rebuttal to counter any allegations of employing the post hoc fallacy and can also furnish a thorough teardown of the economic policies of the president who held office the last time rates were this high.

SMH.....7% for a 30yr mortgage is back to its historical average.

But this is GOOD for America.

Biden’s top down Econ plan is working.

Spend less. Tax more. Embrace energy from all sources.

Unemployment at all time low, inflation under control, consumer spending rising, GDP outgrowing China, 2 major infrastructure bills.

I’ll take Bidenomics every day over some narcissist man-child who’s only running to get his uneducated base to hand him money to pay his legal bills.

And we will see an housing crash within a year.

Also for the record, high mortgage rates don’t have much to with Biden or Trump, but are more a function of the Fed breaking the housing market.

The Fed’s ridiculous 0 interest rates and trillions of mortgage purchases for 2 years created massive unnecessary housing stimulus that took all available homes off the market, which created a 30% run-up in home prices, which the Fed then tried to correct by raising rates at a record pace.

Maybe not continue to send so much to Ukraine? Or you’re good with that because Joe Biden touches you? Both parties are awful. They prey on the weak.

Build Back Better.

Gas prices are higher than during Covid when lots of people were staying home….that should lead to a vote for a different president!!!!

And yet my mortgage rate stays the same.

How about yours?

If you can buy a house now, buy it. Then refi in a few years when rates go down.

If the Fed wants Biden to win, they may start dropping rates early next year.
They are not supposed to let politics affect these decisions, but . . .

Go back in time, listen to fiscally responsible people saying that inflation was inevitable if they kept creating money, stop himself from dumping trillions more into the economy after trillions had been dumped just before that, and don't create the need for the Fed to raise rates for an extended time to try to kill this beast.

(Don't worry about me though, I could see it coming, borrowed millions and bought real assets, so I'm set. BIDENOMICS ABSOLUTELY WORKED FOR ME!!! :) haha)

Love my 2.5% mortgage (15 year), sorry you suckers waited.

Now making 5.25% on some CDs, a great time for those of us who like to save$$$

What would you have had Trump do in the same situation? Oh that's right, he didn't shut down the pipeline or cripple the economy or double the cost of things or have mortgage rates soar to record highs...see Lying Biden for that. Worst President in History, bar none. You Bidenettes are brainless turds.

Wow, you are ignorant.

Inflation hurts poor people the most. You'd think that liberals would try to curb that with responsible spending. Nope. They're literally at fault for the ever growing disparity between the rich and poor and are either too stupid to understand that or are more than happy to have it work that way... I think it's a liberal by liberal as far as to which it is though. Some are just dumb and some just like to use the levers of government to get rich.

npr.org

Inflation may be easing — but low-income people are still paying the steepest prices

The annual inflation rate eased somewhat in April, but not enough to meaningfully reduce the burden on lower-income Americans.

Link:www.npr.org/2022/05/11/1097966775/infl...