Biden Country! 30Y Mortgage Rates UP 143% Under Biden, Long And Short Treasury Curves Remain Inverted (Fed Is Only About Half Way To Raising Rates And Will Stop)

Confounded Interest ^ | 06/05/2023 | Anthony B. Sanders

[Kaiser8408a]

The US economy was sitting high on the global mountain top before Covid. Then Covid struck, The Federal Reserve and Congress went wild with stimulus spending and inflation went wild. This is Biden Country, a feeble shell of this once great nation.

As The Fed tries to counter the years of excess monetary stimulus pre and post Covid by raising rates, we have seen mortgage rates rise 143% under Biden’s leadership. At the same time, the US Treasury yield curves (short 2Y-3m and long 10Y-2Y) remain deeply inverted.

As of this AM, The Fed Funds Futures market is pricing in a chance of continued rate hikes by The Fed, but mostly we are at 5.25% at least until November when rates are forecast to begin declining.

And the Taylor Rule is still signaling rate hikes to 10.12%. We are at only 5.25%. And with Biden feebily running for reelection, the only path forward is rate CUTS.

[Kaiser8408a]

biden is the worst President ever. Or tied with Obama.

[brownsfan]

Hard to pick. Obama implemented the “fundamental transformation” that enabled Joementia to be installed, and continue the destruction of this country.

[Raycpa]

Hyperbolic much?

Current mortgage rate 7.5%.

Historical average 7.74%:

30 Year Mortgage Rate in the United States averaged 7.74 percent from 1971 until 2023, reaching an all time high of 18.63 percent in October of 1981 and a record low of 2.65 percent in January of 2021.

https://tradingeconomics.com/united-states/30-year-mortgage-rate#:~:text=30%20Year%20Mortgage%20Rate%20in,percent%20in%20January%20of%202021.

[The Great RJ]

My wife and I bought our first house in 1979 during Jimmy Carter’s stagflation with a 11.25% 30 year fixed mortgage. We considered ourselves fortunate as within 6 months mortgage rates were near 15%. Given Biden’s economic collapse, I expect double digit mortgage rates by years end.

[bk1000]

“ 30 Year Mortgage Rate in the United States averaged 7.74 percent from 1971 until 2023, reaching an all time high of 18.63 percent in October of 1981 (Carter) and a record low of 2.65 percent in January of 2021 (Trump). This could just as well say life sucks less when Republicans are in control and sucks more when the dims are in control. How are these facts so elusive to so many?

[Pajamajan]

bttt