Some of our readers correctly noted that in the Weekend Hotline we left out another Biden deception.

In his speech he said mortgage rates “will come down“ and he introduced yet another government give-away program that will offer first-time home buyers a $5000 per year subsidy for two years. That’s equivalent to a $416 per month taxpayer subsidy on their mortgage payments.

What he failed to say is that his policies have caused mortgage payments to RISE by more than $1,100 a month on a median-value home. So even WITH this handout, they’re STILL worse off.

When Joe came into office the 30-year mortgage rate for a new home purchase was 2.8% and it averaged about 3.9% under Trump’s presidency. Under Biden the rate skyrocketed to 7.8% and now nationally it stands at 6.9%. As a consequence, the average mortgage payment on a 30 mortgage for a median-value home has risen from about $1,500 a month to above $2,600 today.

The American Dream of home ownership is yet another casualty of Bidenflation.