Mortgage rates rise again for the 4th straight week

[WadeLookingbill]

I read somewhere that the minutes of the last meeting of the federal reserve indicate that they are concerned about Trump's policies causing greater inflation and keeping rates higher. I don't remember specifically where I read it but it certainly could show why rates are rising. And why he specifically is to blame.

I'd be interested to read that if you have a source.

I'd be surprised if they named Trump specifically.

Central bank cut rates last month, but saw risks of somewhat firmer price pressures this year due to potential tariff increases by President-elect Trump​

https://www.wsj.com/economy/central-banking/fed-minutes-suggest-officials-will-hold-rates-steady-for-now-9e95486d

 

[3boysmom]

I'd be interested to read that if you have a source.

I'd be surprised if they named Trump specifically.

I don't know if this was the exact article because I don't generally read Forbes, but it has the same info:

Federal Reserve Worried About How Trump Policies On Tariffs And Immigration Could Impact Inflation, Minutes Show

“The effects of potential changes in trade and immigration policy suggested” restoring 2% inflation “could take longer than previously anticipated,” according to the Fed minutes released Wednesday.

www.forbes.com

 

[5545]

The Trump effect is in full force, as mortgage rates have bumped up again for the fourth straight week. The market and the economy signaling they are not prepared for the chaos that's bound to come. What a shame he has put us in this position. Middle class America already being punished by him.

The average 30-year rate is now a shade below 7%. This is lower than the average rate in the 70's, 80's, 90''s and 2000's, until the Fed started lowering overnight rates to essentially zero in response to the financial crisis. I think a lot of perspectives have been impacted by the abnormal conditions we saw in the 2010's.

 

[onlyTheObvious]

The average 30-year rate is now a shade below 7%. This is lower than the average rate in the 70's, 80's, 90''s and 2000's, until the Fed started lowering overnight rates to essentially zero in response to the financial crisis. I think a lot of perspectives have been impacted by the abnormal conditions we saw in the 2010's.

I always assume I can make 8% in my investments so if mortgage rates are lower than that it isn’t that bad.

 

[Joes Place]

No. What they hate is a feckless, half dead, corpse of a President that cannot lead.

4% unemployment
Lower inflation that most of the Western world
Higher GDP growth than most of the Western world


I'll take more of that, any day.
You're going to see all of it end in fairly short order, and like a good little MAGA, you'll cheer on the economic disaster so long as you can terrorize brown people, gays and trannies.

 

[Joes Place]

I don't know if this was the exact article because I don't generally read Forbes, but it has the same info:

Federal Reserve Worried About How Trump Policies On Tariffs And Immigration Could Impact Inflation, Minutes Show

“The effects of potential changes in trade and immigration policy suggested” restoring 2% inflation “could take longer than previously anticipated,” according to the Fed minutes released Wednesday.

www.forbes.com

Deporting "illegals" that much of our food supply relies on ain't gonna help much, either.

And the "legal" ones, who may watch their relatives incarcerated will be impacted as well.

 

[DooBi]

Trump didn't get credit for the economy for 3 years in his first term. Now he's getting blame before he takes office.

 

[WadeLookingbill]

Trump didn't get credit for the economy for 3 years in his first term. Now he's getting blame before he takes office.

Trump gets some serious credit for Biden's first three years of inflation though, so he's got that going for him, which is nice.

 

[MitchLL]

Trump gets some serious credit for Biden's first three years of inflation though, so he's got that going for him, which is nice.

Rs playing the victim card.

Some things never change.

Republicans = Trash

 

[RicoSuave102954]

Rs playing the victim card.

Some things never change.

Republicans = Trash

Rs playing the victim card.

Some things never change.

Republicans = Trash

Woke liberal Democrats = Garbage

 

[QChawks]

I'm never selling my home

Bought in 2012 @ 2.65%

 

[SolarHawk]

The average 30-year rate is now a shade below 7%. This is lower than the average rate in the 70's, 80's, 90''s and 2000's, until the Fed started lowering overnight rates to essentially zero in response to the financial crisis. I think a lot of perspectives have been impacted by the abnormal conditions we saw in the 2010's.

The problem is housing prices skyrocketed during COVID because of the stupid low interest rates. Now, we have real estate significantly overvalued and rates are double what they were during COVID. I’m afraid we are heading for a serious correction like 2008. A 1000 sq/ft shitbox is $500k here in Pinellas county. Houses are sitting for months because the cost is out of reach for most people.

 

[St. Louis Hawk]

Relax.

This will all be sunshine and rainbows in 5 days.

 

[5545]

The problem is housing prices skyrocketed during COVID because of the stupid low interest rates. Now, we have real estate significantly overvalued and rates are double what they were during COVID. I’m afraid we are heading for a serious correction like 2008. A 1000 sq/ft shitbox is $500k here in Pinellas county. Houses are sitting for months because the cost is out of reach for most people.

Agreed, and everyone who has an existing mortgage is paying 3%.

 

[Gus is dead]

Agreed, and everyone who has an existing mortgage is paying 3%.

Which is why I havent moved from my current house.