Bidenomics: Mortgage rates highest in 21 years.

[Nostra]

Once again Biden’s war on working folks reads its ugly head.

The people are taking a beating under this regime. Food, gas, housing all out of control.

Average long-term US mortgage rate climbs to 7.09% this week to highest level in more than 20 years

The average long-term U.S. mortgage rate jumped this week to its highest level in 20 years. That's grim news for would-be homebuyers already facing high home prices caused a lack of supply.

apnews.com

 

[Moonglow]

You should have seen mortgage rates 40 years ago during Reagan..Guess what? We still survived...really!...
Jul 20, 2023 — Summary: Historical mortgage rate trends ; 1987, 10.40% ; 1986, 10.39% ; 1985, 12.43% ; 1984, 13.88%.

Historical mortgage rate trends: 1970s to 2023​

 

[Billo_Really]

Once again Biden’s war on working folks reads its ugly head.

The people are taking a beating under this regime. Food, gas, housing all out of control.

Average long-term US mortgage rate climbs to 7.09% this week to highest level in more than 20 years

The average long-term U.S. mortgage rate jumped this week to its highest level in 20 years. That's grim news for would-be homebuyers already facing high home prices caused a lack of supply.

apnews.com

My friend is trying to sell his house, this is a good thing!

 

[Moonglow]

Prices fluctuate according to our master's whims...

 

[Nostra]

You should have seen mortgage rates 40 years ago during Reagan..Guess what? We still survived...really!...
Jul 20, 2023 — Summary: Historical mortgage rate trends ; 1987, 10.40% ; 1986, 10.39% ; 1985, 12.43% ; 1984, 13.88%.

Historical mortgage rate trends: 1970s to 2023​

Thanks for confirming the OP, Troll.

 

[Nostra]

My friend is trying to sell his house, this is a good thing!

How does severely limiting the number of buyers who can afford his house help him, Simp?

 

[Moonglow]

Thanks for confirming the OP, Troll.

The president doesn't control the price of a loan, sorry. The finacial industry does.

 

[Moonglow]

How does severely limiting the number of buyers who can afford his house help him, Simp?

Less chance of a repo.

 

[Nostra]

Less chance of a repo.

Where did he say it was going to be owner financed? And explain how a higher mortgage payment lessens the chance of a default?

You really are one stupid ******* troll.

 

[Billo_Really]

How does severely limiting the number of buyers who can afford his house help him, Simp?

The higher the interest rate, the more money my buddy gets!

 

[Nostra]

The higher the interest rate, the more money my buddy gets!

How?

 

[Nostra]

Moontroll deleted his “only people who can afford it will buy it” post in a hurry.

 

[Doc7505]

Once again Biden’s war on working folks reads its ugly head.

The people are taking a beating under this regime. Food, gas, housing all out of control.

Average long-term US mortgage rate climbs to 7.09% this week to highest level in more than 20 years

The average long-term U.S. mortgage rate jumped this week to its highest level in 20 years. That's grim news for would-be homebuyers already facing high home prices caused a lack of supply.

apnews.com

~~~~~~
Its closer to the Carter years of 22% interest on home mortgages.

How mortgage rates hit 18.5% — 40 years ago today

Meanwhile, California home prices appreciated 546% since 1981 — as a typical home went from $117,500 to $759,200, by my calculations.

www.ocregister.com

**********​

**********​

What were the interest rates when Jimmy Carter was president? – idswater.com

ids-water.com

 

[Billo_Really]

How?

By getting more money for his house? I think? I don't home a home, so I really don't know how it works.

 

[Nostra]

By getting more money for his house? I think? I don't home a home, so I really don't know how it works.

You obviously don’t know shit.

 

[Billo_Really]

You obviously don’t know shit.

Obviously.

 

[Tunafish]

Once again Biden’s war on working folks reads its ugly head.

The people are taking a beating under this regime. Food, gas, housing all out of control.

Average long-term US mortgage rate climbs to 7.09% this week to highest level in more than 20 years

The average long-term U.S. mortgage rate jumped this week to its highest level in 20 years. That's grim news for would-be homebuyers already facing high home prices caused a lack of supply.

apnews.com

By the time this is over, Jimmy Carter is going to breathe a sigh of relief (or roll over in his grave).

 

[OhPleaseJustQuit]

My friend is trying to sell his house, this is a good thing!

.





My next door neighbors are trying to sell their house.

It's in a development and is precisely the mirror of my house, and in better shape than my home was when I bought it. Same size lot. Priced comparatively.

I bought mine on the day of the first showing. They've had three weekend showings and have not gotten a serious offer.

*sigh*

Watching eagerly as these neighbors will make me happy when they live on the other side of the state.




.

 

[Moonglow]

By the time this is over, Jimmy Carter is going to breathe a sigh of relief (or roll over in his grave).

Interest was just as high during Raygun.

 

[Staidhup]

You should have seen mortgage rates 40 years ago during Reagan..Guess what? We still survived...really!...
Jul 20, 2023 — Summary: Historical mortgage rate trends ; 1987, 10.40% ; 1986, 10.39% ; 1985, 12.43% ; 1984, 13.88%.

Historical mortgage rate trends: 1970s to 2023​

And what do you attribute as the primary catalyst behind inflation was that pushed mortgage rates up?