Mortgage rates keep going up. It is now 8 percent for a 30 year home mortgage in many places around the country.
30 year mortgage rates are now over 8% in many states. 65% of mortgages are below 4%.
What is your rate locked in at? pic.twitter.com/JozKW8PXD3
— Wall Street Silver (@WallStreetSilv) August 15, 2023
The average 30 year fixed rate mortgage in Florida is 8.049%.
There’s a reason house prices haven’t crashed.
1. Buyers can’t afford the rates
2. Sellers would be insane to sell a home with a significantly lower rate to buy another at 8%.Market is frozen. pic.twitter.com/NVG11bOdr5
— The Wolf Of All Streets (@scottmelker) August 13, 2023
The housing market is seriously broken. Prices for homes have risen to artificially high levels because Jewish firms like Blackrock have been buying and hording residential properties in bulk. There is also the problem of qualified buyers who don’t have the credit to get loans to take out mortgages to buy the homes. Even if they do have the credit, who is going to want to take out a loan with the rates as high as they are?
The residential housing market is going to collapse just like the commercial real estate market. It is simply unavoidable.
