This and That – June 27, 2022

Housing Crash Imminent

– 30Y mortgage rates soaring at the fastest pace on record to above 6%

– Levels last seen just before the housing bubble burst

– The average mortgage payment on a median mortgage up by almost $800 in just the past 6 months

– Making housing the most unaffordable in history

– Sending new home sales plunging at the fastest pace since the peak of the covid crisis

https://www.zerohedge.com/economics/housing-crash-imminent-mortgage-rates-explode-price-cuts-soar-and-buyer-demand-collapses

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