Skip to comments.Kind Of A Drag! Rates On 30-year Mortgages In US Now Highest Since 2000, at 7.53% (UP 153% Under Bidenomics)
Posted on 08/14/2023 7:12:37 AM PDT by Kaiser8408a
As The Buckinghams crooned, the mortgage market is a kind of a drag.
Rates on 30-year mortgages in the US are now the highest since 2000, at 7.53%. Mortgage rates are now up 153% under Bidenomics. Rates have gone from sub 3% to above 7.50% under Inflation Joe.
Yes, in part we are playing catch-up from Yellen’s Reign of Error as Fed Chair (keeping rates too low for too long). Only in Washington DC, does gross incompetance warrant a promtion to US Treasury Secretary. Career half-wit Mean Joe Biden is El Presidente and acting like a third world dictator.
(Excerpt) Read more at confoundedinterest.net ...
When I bought my first house in 1993 the rates were 8% plus
Mortgage rates are up 153%? Is that Bidenflation, since Dementia Joe’s been elected?
If globull warning is going to destroy the planet next year, who in their right mind would loan money on a 30 year note? 🧐
Rates on 30-year mortgages in the US are now the highest since 2000, at 7.53%.According to Kiplinger, 7.74% is the long term average.
If globull warning is going to destroy the planet next year, who in their right mind would loan money on a 30 year note?
The 10-year Treasury just hit 4.18%. Long term rates are definitely rising.
Embrace the suck and sing your sad songs somewhere else than to me.
There are people now who have a jaded sense of well, anything. Where is all this free cash coming from? My son told me yesterday of a fellow who bought an airplane for $89K last year and has been offered $160K for it this year and that is with AV gas now at $7 a gallon! That is slinging money I can't relate to.
Inflation is fueled by greed and stupidity. It takes a greedy seller and stupid buyer to make it go.
Just saying no is necessary to cool the fire.
They don’t want us to drive. They gives us freedom. They don’t want us to have a savings. They don’t want us to own a home. They don’t want us to have a future.
September, 2023-Spring, 2024
Just a guess......
7.53% for a 30-year investment is pretty attractive. Of course there’s a default risk, and also refinancing risk. I’m not a professional investor, but if I were, I’d be looking at these yields as an opportunity.
Let’s go Brandon!
In 1998, my 30 year mortgage rate was 7.125%. Within 5 years, was able to re-fi to 15 year mortgage at 4.5%. Mortgage was paid off in 2012. Sweet!
I thought this article was going to be about Admiral Levine.
I expect mortgage rates to go higher as Bidennomics creates an inflationary spiral. During the last inflationary spiral in late 1979 we paid 11.25% for our 30 year fixed mortgage and within a few months rates were 16-18%. As the economy improved under Reagan, we were able to refinance our mortgage loan to merely 9%.
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