Soaring?
it is just getting back to where it belongs.
With Carter rates went up to 17%. You want Biden - King of MAAH (Make America A Hellhole) to beat Carter’s record?
With reagan it was 9.9-10.5 in 1987. 5.3 is where it should be.
Ditto!
Mortgage interest rates should be around 7%.
That way, CDs can yield 5% with the bankers getting 2%.
A lot of retirees counted on pulling their money out of stocks, buying CDs and living off the interest.
Since they can't, they are hanging onto as much of their money as they can and slowly spending the principal.
If they could get 5%, a LOT of money would start flowing that is now being held.