No worries: Biden is sure to get on that when he surely heads to Delaware this weekend for a well deserved weekend off after doing little during the week
Mortgage Rates Surge to 6.7% — More than Double Since Last Year
The 30-year fixed mortgage rate surged to 6.7 percent on Thursday, more than double what it was a year ago.
According to data from Freddie Mac, the 30-year fixed mortgage rate jumped by 0.41 percent from a week ago. A year ago, the rate was at 3.01 percent. It is also the highest it has been since July 2007, when the subprime mortgage crisis was in its early stages.
While the federal reserve recently hiked interest rates between three and 3.25 percent, the highest since 2008, the mortgage rate is not directly tied to the Fed but rather the ten-year U.S. Treasury bond yield. (snip)
According to Bankrate.com, if an individual were to purchase a $500,000 home with a 20 percent downpayment today, they would expect to pay approximately $259,000 in interest over 30 years. However, if they purchased a home for the same price and down payment when President Joe Biden was inaugurated in January 2021, they would only be paying $189,400 in interest over 30 years.
In fairness, we can still look to China as the main responsible party for screwing the U.S. and the world with COVID-19. But, everything Biden and the Democrats have done has made things oh so much worse.
Only Joe Biden could CONSISTENTLY get lost at his own press conferences.
This is scary. pic.twitter.com/3RZz0aqJIn
— Steve Guest (@SteveGuest) September 29, 2022
He’s pretty lost on the economy, too.
