Interest Rates Soared in America

Published December 18th, 2023 by IREAF

The average monthly mortgage payment in Joe Biden’s America has soared to $3,322.

That $3,322 is nearly double the average monthly mortgage payment when His Fraudulency assumed office. When former President Trump left office, the average monthly mortgage payment was $1,787.

Homeownership has become a pipe dream for more Americans even those who could afford to buy just a few years ago.

Many would-be buyers were already feeling stretched thin by home prices that shot quickly higher in the pandemic, but at least mortgage rates were low, the report adds. Now that they are high, many people are just giving up. Let’s remember who these people are who are looking to enter the housing market — young people. And who do young people vote for overwhelmingly? Democrats. And so, allow me to welcome you to today’s edition of People Getting What They Vote For:

It is now less affordable than any time in recent history to buy a home, and the math isn’t changing any time soon. Home prices aren’t expected to go back to prepandemic levels. The Federal Reserve, which started raising rates aggressively early last year to curb inflation, hasn’t shown much interest in cutting them. Mortgage rates slipped to about 7% last week, the lowest in several months, but they are still more than double what they were two years ago.

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