FedEx Proves the Fed Can’t Deliver a Soft Landing – Ep 841
The Peter Schiff Show Podcast
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Mortgage Rates Are Going to Go Up, and Nobody Can Afford to Buy a New Home
In 19 81 for a 30 year, fixed rate mortgage was 16 point six %. Can you imagine what would happen to the housing markets if americans had to borrow money at that rate? i put in the calculations that i used earlier for buying the 400 forty thousand dollar home, only instead of with the current six point one mortgage rate, i used 16 point six. That would increase the monthly payment to five thousand 823 dollars and 76 cents. Now that's probably more money than the average person makes in a year, and that's before taxes. So there's no way they could afford to buy that house. And if mortgage rates go much higher, the roof is going to collapse on
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