The Federal Reserve are unelected birds of war. They manipulate interest rates in an attempt to manipulate economic and social outcomes. Often making everything worse.
Global mortgage rates are soaring, much of due to central bank tightening after the Covid fiasco of 2020 as central banks try to reign in inflation caused by rampant government spending.
Most homeowners are now locked into low borrowing costs, which is hampering home sales.
The US conforming mortgage rate (30Y) is up 156% under Biden while the 10-year Treasury yield is up 304%.
Wake Joe up, before the election. He is off on vacation to Nantucket … again. Likely to help The Federal government execute a Nantucket Sleighride on the economy.
The Federal Reserve Board of Governors.
Happy 81st birthday at the nursing home Joe!!
