To Those Of You Who Say “The Fed Has To Pivot Soon Or The Treasury Will Go Bankrupt!!!” I Humbly Offer The Following Chart:

by ObiWanCanownme

Something will break. It just won’t be the U.S. federal government.

Fed Chair Powell says interest rates are ‘likely to be higher’ than previously anticipated

Keep an eye on the potentially large number of mortgage defaults: 10% of new loans in 2022 were adjustable-rate mortgages

Keep an eye on the potentially large number of mortgage defaults. “In mid-2022, adjustable-rate mortgages made up nearly 10% of all new home loan applications, according to the Mortgage Bankers Association (MBA).”

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For the average variable rate mortgage holder with a $500,000 loan and 30 years remaining on their term, another 25 basis point increase will add $1051 to monthly repayments compared to April 2022 levels.

Links:

themortgagereports.com/93472/adjustable-rate-mortgage-trends-2022

au.news.yahoo.com/mortgage-holders-brace-more-interest-010657251.html

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