UMich Buying Conditions For Housing Remain Depressed As Mortgage Rates Continue To Rise (Thanks A Boatload, Powell!)

by confoundedinterest17

Mortgage interest rates continue their meteoric rise (along with home prices), the result of which is a tanking of consumer confidence in home buying.

The University of Michigan survey of consumers about buying conditions for housing remains depressed due to rising mortgage rates and surging home prices.

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Bankrate’s 30Y mortgage rate is down slightly today to 5.06% as the 2-year Treasury yield declines and the anticipated rate hikes have fallen to 9.19.

As I mentioned earlier, mortgage credit availability hasn’t recovered from the “Covid Correction.”


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