Surging home prices have primed the housing market for this.
Wolf Richter with Jim Goddard on “This Week in Money“
Chorus gets louder. But no one will be ready for those mortgage rates.
Rents are on the move, but not in the same direction.
But some flat spots are showing up!
And how would the housing market digest these kinds of mortgage rates?
Since the Financial Crisis, the number of renters surged at a blistering pace, and renters became a majority in 42 cities, but the trend has now reversed.
Why is Fannie Mae Offering Goldman Sachs et al. Such Fat Margins on Defaulted Mortgages?
Oops, they’re already rising.
A blistering boom, backed by $4.3 trillion in bank loans, ends.