Mortgage Prices Hit 22-year Low

Posted: Thursday, June 9, 2022 , in

Yesterday we found out that applications for a mortgage to purchase a home fell 7% for the week and were 21% lower than the same week one year ago.

These are the things that the Federal Reserve is looking for. Signs that people are changing their behavior because a mortgage of 3% in February is now 5.25%. This means their monthly payment is more expensive. Which in turn, stops people from buying homes. Which also, will steadily bring home prices down. It's already happening.

Click the link to check out yahoo's article

Securities and Advisory Services offered through Cadaret Grant & Co. Inc. a Registered Investment Advisor, and Member FINRA/SIPC. Felhandler Financial Group and Cadaret Grant & Co. Inc. are separate entities. Financial professionals associated with this site are registered to conduct securities business and licensed to conduct insurance business in certain states. Response to, or contact with, residents of other states will be made only upon compliance with applicable licensing and registration requirements. The information in this website is for U.S. residents only and does not constitute an offer to sell, or a solicitation of an offer to purchase brokerage services to persons outside of the United States.