Posted on 09/27/2023 6:35:08 AM PDT by Kaiser8408a
Wasting away again in Biden’s Mortgage Market! Looking for our lost economy.
Mortgage rates moved to their highest levels in over 20 years as Treasury yields increased late last week. The 30-year fixed mortgage rate increased to 7.41 percent, the highest rate since December 2000, and the 30-year fixed jumbo mortgage rate increased to 7.34 percent, the highest rate in the history of the jumbo rate series dating back to 2011.
Mortgage applications decreased 1.3 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending September 22, 2023.
The Market Composite Index, a measure of mortgage loan application volume, decreased 1.3 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 2 percent compared with the previous week. The Refinance Index decreased 1 percent from the previous week and was 21 percent lower than the same week one year ago. The seasonally adjusted Purchase Index decreased 2 percent from one week earlier. The unadjusted Purchase Index decreased 2 percent compared with the previous week and was 27 percent lower than the same week one year ago.
(Excerpt) Read more at confoundedinterest.net ...
Remember, under Carter mortgage rates hit 18% at one point.
You can do it “Slow Joe”!!
Even while these America serial killing
Marxists decimate the country, they believe they can get a second term.
Let’s hope their fraud dreams go up in smoke
It’s all part of the plan of “you’ll own nothing and like it”.
Why do I keep seeing new housing developments everywhere I go, many more than I remember seeing in past decades?
I realize that current home-owners eager to dump their houses onto the market will be loathe to immediately react. They'll refuse to lower their asking prices... at first. But eventually they'll have to concede that they won't be able to move their house without lowering their asking price.
Regards,
Do you buy a cheaper house with a higher interest rate or rent and hope something good happens in the next year or so and then buy?
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