Posted on 01/13/2024 8:54:41 AM PST by Kaiser8408a
The Federal Reserve has line on you!
The Federal Reserve has tightened their monetary manipulations to combat inflation caused by loose monetary policy and excessive spending by Biden and Congress.
The result? US conforming 30-year mortgage rates are up 8.3% since last year and up a whopping 141% since the beginning of 2021 (the year Biden was selected to be President).
Check out mortgage rate GROWTH (blue line) as M2 Money growth *green line) went negative (orange box).
This graph corresponds nicely with this chart of YoY changes in The Fed Funds rate. Which is still rising at a rate of 22.2% year-over-year (YoY).
The 30-year mortgage rate had been falling after peaking in August 2023 after peaking at 7.299%. The latest reading on January 11, 2024 was 6.662%.
Perhaps its time to retire Vacation Joe as Resident. And defang The Federal Reserve.
(Excerpt) Read more at confoundedinterest.net ...
I don’t get much out of articles because, for example, what’s the significance of M2 money growth?
Hey there was a guy on Warroom this week saying mortgage rates are up 280%. I can’t think of his name. He is a former House rep and a professor at Liberty University in the School of Business... I think he took Eric Cantor’s seat. Oh that is right, Dave Brat.
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