Highway To Hell? Sentiment For Home Buying Nears All-time Low As Mortgage Rates Remain High, 30Y Treasuries On Track For 3rd Worst Return Since 1919 And China Continues To Dump US Treasuries (Home Prices UP 34% Under Biden, Mortgage Rates UP 165%)

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The US is on a “Highway to Hell!” thanks to flawed economic policies under Biden.

First, interest and mortgage rates under Biden have soared driving buying conditions for housing to all-time lows. Combine sky-high home prices with high mortgage rates and we have as serious affordability crisis.

Second, on the interest rate front, the 30-year Treasury bond is on track for the 3rd worst annual return since 1919 and Russia’s invasion of Ukraine. Not not the current invasion, but the 1919 invasion.

Third, China is dumping their holdings of US Treasuries and Agency Debt at record rates.

Of course, mortgage rates hit 18% in 1981. So, the term high mortgage rates is relative. The US had low rates for too long (Bernanke/Yellen) and mortgage rates are now in the 7% range, up 165% under Biden. And home prices are up 34% since Biden was sworn-in as President. Wow! Mortgage rates up 165% and home prices up 34% under Biden’s Reign of Error.

Well done, gentlemen! … NOT!

Published by confoundedinterest17

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