7.5% Mortgage Rate BELOW Historical average

[Crepitus]

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. This page includes a chart with historical data for the United States 30 Year Mortgage Rate.

The extremely low rates under Trump were not normal at all, and the sign of a weak and fragile economy. Trump's economy crashed when they tried to raise rates to 2+% in 2018, then they needed to cut rates and start more QE. not good.

Biden has a strong and normal economy with a 7.5% mortgage rate that is still under the 30 year average. Trump had a weak and fragile economy that required weak low interest and mortgage rates. Trump's low interest and mortgage rates are a sign of a bad and weak economy.

United States 30-Year Mortgage Rate

30 Year Mortgage Rate in the United States increased to 6.87 percent in March 20 from 6.74 percent in the previous week. This page includes a chart with historical data for the United States 30 Year Mortgage Rate.

tradingeconomics.com

Bought my first house at 11% in 1990.

 

[Crepitus]

^^ okay this has to be a troll account.

He posted an unassailable fact. Do trolls usually do that in your experience?

 

[Crepitus]

So Obama's economy was weak? Just making sure we are clear, as rumor has it you lot might try to force Big Mike on the stage.

Obama's economy was a recovery economy to start with, and yes they should have been raising rates for the last 1/2 to 1/3 of his term.

 

[Crepitus]

Spin all you want. Biden is killing the housing industry.

I have clients that flip million dollar houses and they are dead in the water because of interest rates.

People need to move for various reasons but can't because if they sell their current house that has a 2%+ rate they will lose ALL of their gains when they rebuy at 7+%

You're a fool. And you call yourself banker

Flipping million dollar houses is part of the problem here. They are driving up the price.

 

[bripat9643]

Flipping million dollar houses is part of the problem here. They are driving up the price.

What "problem" is that, having a nice home?

 

[theHawk]

He posted an unassailable fact. Do trolls usually do that in your experience?

We have the highest mortgage rate in 21 years.

He is a propagandist, who has to cover for Biden’s miserable economy. You make a good fluffer for him, you swallow whatever he is spewing.

 

[John Edgar Slow Horses]

theHawk needs to grow up. He refused to do a scan from 1973 to 2023, so he can argue a short-ass yell that is meaningless

 

[Nostra]

theHawk needs to grow up. He refused to do a scan from 1973 to 2023, so he can argue a short-ass yell that is meaningless

Was he incorrect?

 

[Hutch Starskey]

You said the rates were artificially low.

They were exactly where they needed to be.

The rates were artificially lowered in the same way they’re now being raised, fool.

 

[bripat9643]

The rates were artificially lowered in the same way they’re now being raised, fool.

Are you proposing to abolish the Federal Reserve?

 

[Hutch Starskey]

Are you proposing to abolish the Federal Reserve?

No retard.
You dropped that turd.

 

[Crepitus]

What "problem" is that, having a nice home?

There's a key word in the post you quoted, let's see if you can spot it.

I have some serious doubts.

 

[Crepitus]

We have the highest mortgage rate in 21 years.

He is a propagandist, who has to cover for Biden’s miserable economy. You make a good fluffer for him, you swallow whatever he is spewing.

Did you read the whole post? DO you know what "historical average" means? I bought my first home at 11% and it was considered a good rate at the time.

 

[HikerGuy83]

Did you read the whole post? DO you know what "historical average" means? I bought my first home at 11% and it was considered a good rate at the time.

And I got my first at 10.5%.

I certainly didn't know any better.

The cost of that home was lot less because prices modulate to the payment (and payment is directly related to interest rates).

So, if interest rates go up, prices eventually go down. Not in direct proporation, which is a problem.

The real problem is that if prices have been set from a long run of 3 to 3.5%, when things suddenly jump to 6.5, the prices don't cut by 40% (allowing for principle). That would put a lot of people way underwater.

Consequently, people fight to hold the higher prices and it's tough for buyers, especially younger buyers to get into the market. I know some who are pushing the limits of their ability to pay to get houses that are crap.

Get a clue.

 

[HikerGuy83]

theHawk needs to grow up. He refused to do a scan from 1973 to 2023, so he can argue a short-ass yell that is meaningless

You need to take a long walk on a short pier.

 

[HikerGuy83]

The rates were artificially lowered in the same way they’re now being raised, fool.

What do you mean artifically lowered.

They got lowered. That's all.

Now they've been raised.

They are not going to lower them if they don't see it fitting into inflation control. Conversely, they are not going to raise them if they don't see it fitting into inflation control.

Fool.

 

[Toddsterpatriot]

From 2001 - 2008, before Bush and the idiot republicans blew up the economy and destroyed America the Mortgage rate was 6-8%, same as we have now retard.

Trump had a weak and bad economy that only survived on low rates and FED fake money printing. His low rates were a sign of weakness.

30-Year Fixed Rate Mortgage Average in the United States | FRED | St. Louis Fed

View data of the average interest rate, calculated weekly, of fixed-rate mortgages with a 30-year repayment term.

fred.stlouisfed.org

Liar.

 

[John Edgar Slow Horses]

You need to take a long walk on a short pier.

You can't handle the facts of economics and finance. That is your problem.

 

[bripat9643]

There's a key word in the post you quoted, let's see if you can spot it.

I have some serious doubts.

Fuck off. Spot it yourself.

 

[HikerGuy83]

You can't handle the facts of economics and finance. That is your problem.

It's a wonder you can even spell the two.

That you don't understand either is readily apparent.