[JonPreston]

The most recent data from on existing home sales show YoY sales in negative territory as The Fed begins in monetary fireball tightening.

And down comes home prices.

[Dilbert San Diego]

Everyone should refi now if they haven’t already, if they need to get out of an adjustable mortgage and switch to a fixed rate.

I don’t recall, but have heard that during the Carter years, some mortgages hit 16 and 17 percent. Just doing the math on that, to figure a monthly payment on a mortgage at such high rates, will make your head spin.

Hopefully we aren’t headed back to those levels.