Posted on 10/20/2023 12:06:35 PM PDT by Kaiser8408a
Fire! Yes, Biden and Congress created a fire with it reckless Federal spending leading in 40-year highs inflation, prompting The Fed to counterattack with rapid rate hikes.
We now see the 10-year Treasury yield passing 5%. And the REAL 10-year Treasury yield passing 2.46%.
And Freddie Mac’s 30-year mortgage rate survey is at 7.63%, the highest since 2000.
Washington DC’s rampant spending is going to hurt you for a long, long time. And Biden is now prposing $100 BILLION MORE for Ukraine and Israel. Face it, that’s all Democrats and RINOS know what to do … throw money at problems.
Here is how I feel about Washington DC in general. This is not me, but Israel-hating, Hamas-loving Rashida Tlaib.
(Excerpt) Read more at confoundedinterest.net ...
5% on the 10 year leaves the yield curve inverted so I expect it to still go up. Mortgage rates will hit double digits before long.
But not as high as under Carter when house interest payments were in the 14-18% range.
Well, when hiring is done based on Kolor, Kink and Kin (rich powerful daddy) then you're gonna get stoopid. Same with the Biden Administration's private school 'Hunters'...
OOOOOh, I remember those days
It’s not out of control, the Bond Market is controlling it right now.
My dad is still fuming over that.
14% - 18% mortgage under Carter when ave houses were under $55,000.
Ave house hold income in 78 was around $1,400 a month with ave house payment of $650
Ave house in 2023 = $435,000
Ave income = $6,500 a month
Ave pmt @14% = $5,500 a month
Throw in taxes on income and house and you are screwed
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