5 ms·
mortgage rates have doubled in the last two months, the 20 year has doubled in the last two months, rhe policy rate had doubled in the last two months (admitted
by anm89 5y ago
mortgage rates have doubled in the last two months, the 20 year has doubled in the last two months, rhe policy rate had doubled in the last two months (admittedly a small nomination amount) and is about to double again in a week.
so although overall rates are still low, I think it's pretty fair to say they have exploded
- Spooky23 5y ago“Doubled” from rock bottom. The government flooded the zone with cash to keep the economy alive. Hell, I’m paying a 2.25% interest rate on my home. People are running around like chickens about inflation this and inflation that. The only meaningful metric is gas prices.
- meissler 5y agoHave you gone grocery shopping lately?
- MisterMower 5y agoFor a guy who bought a house with a loan at 2.25%, gas prices might be the only meaningful metric. Not everybody is as lucky as you, bud. People are watching the value of their savings evaporate before their very eyes as they try to put together down payments for a home or find a minivan for their growing family. It’s a real problem, and if you want to see what a world where it doesn’t get fixed quickly looks like, go read the book “When Money Dies.” Pretending it doesn’t exist won’t fix it either.
- Spooky23 5y agoI’m not saying it’s not a real problem. It’s a symptom of long standing issues that have been kicked down the road for my lifetime. I grew up in a farm town where 30 farms circa 1990 are down to 4, and the factory in the next town employs 80% fewer people. The nations strategy for dealing with this has been to suppress the business cycle with endless cheap cash. IMO, it won’t get better until it gets worse.