There is No Recession – There is Only a Special Economic Operation

Econophysics2020

ZeroHedge: https://www.zerohedge.com/markets/sharpest-turn-housing-market-2008-crash-mortgage-rates-soaring-above-6

“This Is The Sharpest Turn In The Housing Market Since The 2008 Crash” As Mortgage Rates Soar Above 6%

THURSDAY, SEP 15, 2022 – 11:40 AM

And the hits just keep on coming for the US housing sector.

Three months after hitting the highest level in 14 years, on Thursday mortgage rates hit a fresh post-financial crisis high when they topped 6%, a jolt to home buyers who last year were paying less than half that.

The latestmortgage lender survey by Freddie Macfound thatthe average rate on a 30-year fixed mortgage climbed to 6.02% this week,up from 5.89% last week and 2.86% a year ago. The last time rates were this high was in the heart of the financial crisis in November 2008, when the U.S. was deep in recession.

The jump in mortgage rates – a welcome development by the US central bank…

View original post 933 more words

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.