Logan Mohtashami: When will mortgage rates drop back to the 5% range?
HousingWire Daily
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Do You Feel Like Everything Is Lined Up Perfectly for That?
In 2021, shelter inflation was still hot and it keep on going. In 2022, the Fed rate hikes are already here. Mortgage backed security is already stressed. Used car prices are already falling. The sixth recession red flag is holding up because the labor market is honey badger labor market. So that's the tug of war. Higher rates, higher interest charges, demand slows down. Next stage is job loss or sessions from service workers, renters, renters not being able to pay shelter inflation comes down.
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