Biden Brags About Mortgage Rates Dropping In 2024 (Inside Info On Disease X?? Or Admission That The Economy Actually Sucks)

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As only Clueless Joe can do, Biden brags about something that he has nothing to do with: falling mortgage rates.

Mortgage rates (30-year conforming rate) are up 392 basis points or a whopping 142% under Biden. Mortgage rates are down from the 2023 peak of 7.83% to 6.69% as of yesterday. One reason that mortgage rates are stable is that M2 Money GROWTH has been negative since the end of 2022.

Of course, it is The Federal Reserve acting to slow down inflation caused by excessive Federal government spending that is leading to mortgage rates declining, not Biden’s open border policy or his green agenda.

But for the future, does Biden know something that we don’t know? Like is Biden buying into the hypothetical Disease X (20 times worse than Covid) that was discussed in Davos at the World Economic Forum. If a major pandemic is unleashed (again) in the election year, The Fed would have to cut rates (again) to offset the damage done by another round of goverment economic shutdowns. Not to mention the shutting down of schools again.

Or did Biden just tell us that he knows the US economy is slipping and The Fed will come riding to the rescue of Biden (or Newsom or Michelle Obama) like in an old John Ford western with John Wayne. That would also lead to declining mortgage rates in 2024.

But all is not well in the banking sector. Use of Fed funding tool jumps most since April to fresh record: Banks borrowed record sum of $161.5bn from Fed’s Bank Term Funding Program, w/demand at $14.3bn climbing the most in 9 months as they piled into a reliable arbitrage trade just weeks ahead of its scheduled closure.

The availability of mortgage credit remains VERY TIGHT.

Whether its Disease X (unleashed The Kraken!) or just a slowing economy, The Fed (the master manipulator) will likely cut rates in 2024. Making mortgage rates come down.

And what is a dancing sandwich??

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Published by confoundedinterest17

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