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Economy See other Economy Articles Title: The Housing Bubble: Owners Trapped by Low-Rate Mortgages, Buyers Thwarted by High-Rate Mortgages
Source:
Of Two Minds
URL Source: https://www.oftwominds.com/blogapr23/housing-rates4-23.html
Published: Apr 23, 2023
Author: Charles Hugh Smith
Post Date: 2023-04-23 01:31:04 by Charles_Byrd
Keywords: None Views: 46
If as many posit the Federal Reserve has an unstated mandate to generate a "wealth effect" by propping up housing, they've managed to create a no-win situation. As longtime correspondent K.M. recently documented, roughly half of the 50+ million home mortgages in the US were refinanced in 2020 and 2021 to lock in historically low interest rates of less than 4%, with many around 3%. Click for Full Text! Post Comment Private Reply Ignore Thread
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