The Feeble Fed And Crashing Mortgage Credit Availability (Mortgage Rates Declined 38% YoY While Mortgage Credit Availability Declined 34% YoY)

by confoundedinterest17

The Federal Reserve has helped 30-year mortgage rates fall by 38% YoY. That is the good news!

The BAD news is that mortgage credit availability has declined 34% YoY.

Here is Fed Chair Jerome Powell singing “The Itsy-bitsy spider went up the water spout” when asked about this chart.