The average 30-year fixed mortgage rate jumps to 7.50%

It's going higher. Think Carter and Reagan eras ...

Feel for the cats born into this shitshow... but the genx /gen z/ miillineals who continue to vote for these policies ... not so much

Meanwhile housing starts crashed to the lowest levels since the Covid response

Word is once rates drop 2% points the market going to go nuts with no supply. Values are expected to soar.

There will never be a better time to buy than now. When rates start dropping measurably, demand is going to rise and with little supply, the prices will escalate.

You can always refinance when rates starts dropping

He’s jacking up rates to stem inflation. And jacking himself off to his own money printing, which leads to more inflation.

He should lock himself in a small room with a humidifier and a dehumidifier and let them battle.

Bidenomics at work

I’m a first time homebuyer at 7.125%. It sucks having a rate that high, but found a place I really like and was tired of renting and not building equity. Also, hopefully I’ll feel a little better come next tax season.

I think we are a long ways off until we see rates around 5%.

Unfortunately the fed cant control whats spiking inflation. If PCE comes down and we get a legit jobs numbers they are gonna cut

I think it happens in Sept which would be perfect timing

I waste plenty of money but the money I waste , with my salary as a single man, isn’t enough to buy right now. You can’t necessarily even sacrifice some then live in a basic cheaper house depending where you are because of other factors. Unless you are making 100,000 straight out of college and had a nice chunk of college job money stashed away, you aren’t buying in Baton Rouge. Anywhere decently safe, doesn’t have a starter house price. It just is what it is. Everything is ridiculous.

Things might go back around but while younger generations may have voted for people that caused this, boomers in civilian life have no clue. You can’t work at a hardware store and your wife stay home and sometimes sale Tupperware and buy a house. And most of Congress has been Boomers the last twenty years so … it is what it is. Nothing is more annoying than people bitching about generations. They all have their faults. After WW2 it was down hill. The better times, technology, etc didn’t help the human behavior so I don’t blame and just blindly throw out “ok boomer” and it’s not fair to call everyone a millennial. Pet peeve , the dumbasses I work with that are millennials who call the new kids millennials.