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.
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.”
- China Responds to Joe Biden’s Declaration of War
- The Level Of Evil In Our Society Is Off The Charts
- Insiders are running to the exit…
- Irish President Says Elon Musk is a Dictator Because He Wants to Give People Too Much Freedom
- DEF fluid shortage…Shortage of Urea will cause shortage of DEF used in ALL modern diesel engines.
- Reporters Are Being Detained At Davos! +Secret Leaked Document
- First Black Lesbian Press Secretary Immediately Demoted After First Week
- Check out the parking lot at the Davos Climate Change Conference this year…
- When the crowd gets trapped in the casino with no way out, we’ll probably realize I’m too bullish…. The run to cash has officially begun.