U.S. Default Would Cause Mortgage Rates to Top 8% | Hot Sheet 05/12/23
BAM Hot Sheet
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Are We Going Into a Hard Landing Economically?
Haley: Is a soft landing possible or are we headed for an economic hard landing? Haley: It's actually not about housing. It's really more about employment. And if we see deteriorating employment, what we always see is that housing bounce, which today I would argue it's a bounce not a bottom, rolls back over as people lose jobs. The Fed wants to break housing. That's Logan Motoshami's big quote from Housing Wire on CNBC. We're still near an all time low on unemployment, but we're starting to see it loosen up.
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