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The Debt Ceiling Approaches | Joseph Wang & Dominique Dwor-Frecaut
Forward Guidance
The Implosion of the Housing Market
Mortgage rates, as of recording today, are 7%. And there were about 6 to 7% for the past few months. So what's happening is that because so many people refied into let's say sub five or maybe around 3% mortgages, no one wants to sell their home even if they have to move. Because you have very low supply, even though demand is lower because of high mortgage rates, prices aren't really falling very much. In fact, they're stabilizing.
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