Posted on 07/19/2022 8:58:55 AM PDT by Browns Ultra Fan
Everything is NOT beautiful for the mortgage market. In fact, the 30-year mortgage rate is up 99% since Biden took office as President.
Mortgage rates are rising in part thanks to The Federal Reserve trying to control inflation (caused by Biden’s energy policies and spending). But mortgage rates are down slightly today.
Bear in mind that REAL wage growth is negative, thanks to Bidenflation.
Joe Biden’s policies are a real heartbreaker for millions of Americans. And Jill Biden is the living, loving baby sitter.
(Excerpt) Read more at confoundedinterest.net ...
1Mortgage Rate History: Check Out These Charts from the Early 1900s
2Here's how much home prices have risen since 1950
Quite honestly, we should consistently have mortgage rates around 5 or 6 percent. Low interest loans and mortgages lead to all sorts of personal financial problems. Cheap money really isn’t cheap to many people.
“Quite honestly, we should consistently have mortgage rates around 5 or 6 percent. Low interest loans and mortgages lead to all sorts of personal financial problems. Cheap money really isn’t cheap to many people.”
Wouldn’t 10% be better?
Spoken like an old fart!!!
What kind of personal and financial problems do low interest rates cause? We are all fascinated to hear the answers. 😅
The FED will raise the interest rates .75 on July 26.
No. Let the market set the price. Something free isn’t worth anything, or it loses it’s value. Interest rates have been kept artificially low. These asswipes at the Fed are not god. What makes them think they know what the optimum interest rate is, or the optimum unemployment rate? By the way, there are two sides to transactions. Sure, if interest rates are 4%, and if you borrow you have to pay interest. But you can just as easily be a lender and make money. By the way, I am leaning towards making ending the Fed as one of my major economic arguments. But I’m not arguing it until knowing the best alternative. I’ve been doing a lot of reading on the subject.
Deflection when the dollar is devaluating. Will not remedy devaluation.
Deflection?
Mortgage rate narratives deflect from the real news of devaluation.
Thus all real estate and durables vehicles will remain high
“No. Let the market set the price.”
First you say what mortgage rates should be then you say the market should decide. Which is it?
If mortgage rates are to be fixed who will do the fixing?
Yes, but this thread is about mortgage rates. There are many reasons why the dollar and all major world currencies are devalued. It just happens that the USD is the one of the world’s tallest midgets amongst currencies. There are many factors that could change the USD from a midget to a literal giant. That starts by relying on market capitalism versus relying on an arbitrarily manipulated markets by economic morons. (The Fed is filled with those morons, they repeatedly get it wrong and can’t meet their mission.) That manipulation goes well beyond monetary policy and relying on global institutions. US fiscal and trade policy plays huge role.
Yes. Mortgage rates are a symptom.
The real target is buying POWER.
Ok Mr. Argumentative, I’ll explain what I meant. I gave 4 to 5% as an example. It is a range. If the market makes it lower or higher is not the issue. The problem is interest rates are arbitrarily manipulated and not rooted in pure market capitalism. Instead of arguing for the point of arguing, why don’t you offer a solution that is better than the status quo.
Ditto to that (power)
“I gave 4 to 5% as an example.”
No, you flatly stated that the interest rates should be fixed without saying who and who should set them.
“Quite honestly, we should consistently have mortgage rates around 5 or 6 percent. “
“If the market makes it lower or higher is not the issue. “
In your original post you cited the issue as the basic for fixing interest rates:
“Low interest loans and mortgages lead to all sorts of personal financial problems.”
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.