First time since the doldrums in 2011 The cost of a 30 year mortgage is astronomical Mortgage demand has frozen ... Refinancing has also fallen off a cliff I'm looking for sellers to start capitulating soon ... (as in within the next few quarters) As we start to see the consumer at breaking point.
This chart shows the 30-year mortgage rate. How important is this chart? Why does it matter? Well, to people like me, potential new home buyers, it's hard to overstate just how important this chart is. I have to understand it. If you already have a home at a low interest rate, congrats! Lucky you. But for those searching the market, it's time to pay close...
I anticipate 30 Year Mortgage rates have a clear ceiling towards 7.63% then hover for a bit sideways. I believe the avg for this decade 2030 will the new norm at 5%