The 30-year fixed rate mortgage is now over 7 percent. CNBC is claiming this is due to strong economic data lol.
Mortgage rate soars to 7.22% after strong economic data https://t.co/sXNEvybVvL
— CNBC (@CNBC) July 6, 2023
The so-called strong economic data is a total hoax. These numbers are all manipulations and lies.
We’ve had layoffs happening for months and they tell us that unemployment is at all-time lows. Not to mention the fact that there is over 100 million people out of the labor force in the country.
Either way, higher mortgage rates mean doom for the housing market. Who is going to be able to afford these rates?
BREAKING: Average interest rate on a U.S. 30-Year mortgage rises to 7.1%.
Monthly payment on a $400,000 mortgage:
– 2 years ago: $1,600
– NOW: $2,700
Meanwhile, markets are beginning to price in up to 3 more interest rate hikes this year.
Buying a home has become a luxury.
— The Kobeissi Letter (@KobeissiLetter) July 6, 2023
This entire system is collapsing.
