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14 Aug 2023

US average mortgage rates just surged above 7.5% for the first time in 23 years

There are some reasons why US 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 7.5%. Market is frozen. The economy is currently experiencing a significant tightening of financial conditions, largely driven by the persisting fragility in the Treasury market. The bill will come due at some point. Source: Crescat Capital, The Wolf of All Streets

12 Jul 2023

US 30 year Mortgage Rate

The US 30 year mortgage rate has hit a new decade high at 7.38%, up 23 bps since last week, per BankRate

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