[ConservativeInPA]

Until the Republican Congress massively cuts spending there will be inflation. But McCarthy wants a CR and omnibus to continue and increase Pelosi-Biden programs and spending.

[TomGuy]

Sounds ominous, except that a 5%-6% interest/mortgage rate was historically considered 'the norm' going into the Carter years and 8%-10% was 'the norm' until the GWB real estate crisis that shrank interest/mortgage rates to historically low levels.

1920-34 near 6% mortgage average¹
1935-45 just under 4.5% mortgage average¹
1960 - 5.1% mortgage average²
1971 - 7.3% mortgage average¹
1980 - 13.7% mortgage average²
1981 - 16.6% to 18.45% mortgage average²
1990 - 10.1% mortgage average²
2000 - 8.1% mortgage average²
2010 - 4.7% mortgage average²
2020 - 3.1% mortgage average²

7.74% is the long term average³

7.69% is the mortgage rate this morning on realtor.com.

sources:

¹Mortgage Rate History: Check Out These Charts from the Early 1900s

²Here's how much home prices have risen since 1950

³Kiplinger: The Magic Mortgage Rate Number to Tip the Housing Market

historic CPI Inflation calculator

[blackdog]

"Stop government overspending"

- Paul Volker

[chief lee runamok]

Unfortunately, due variable rated interest, my ex was just notified her mortgage
payment will be extended another three years.

A rabid liberal, I suppose she has no clue her support added another ten grand
plus to her purchase.

[Governor Dinwiddie]

But, but, but … orange man bad.

[GOPJ]

The Consumer Price Index (CPI) rose 0.6% in August – the biggest monthly gain for the year.

Energy prices soared as real wages declined – Bidenomics!

Gas prices once again this week soared to record levels for the year.

Grocery prices are up 19%.

All awful - but the fun part will be watching propaganda babes at the New York Times and Washington Post spin this as 'great Bidenomics at work'... .