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Chart of the Day

Last week mortgage rates poll vaulted over the 7% hurdle to the highest rate since April 2002.  Biden has succeeded in taking the interest rate on home purchases from 2.8% under Trump to 7.1% in just 30 months in office.

Higher mortgage rates hurt home buyers and home sellers. Sellers get a lower price for the house and buyers pay $10s of thousands of dollars more in interest payments over the 30-year life of the loan.

The only good news is that mortgage rates are still almost 10 percentage points lower than they were when Jimmy Carter crashed the economy.

Unleash Prosperity Hotline


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