So, do you want to buy a house? Mortgage Rates hit 8%. Thanks Joe Biden.

Post author By MC
Post date October 19, 2023
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The highly popular 30-year fixed mortgage rate hit 8% on Wednesday. Interest rates soared a whopping 20 basis points this week and the 30-year fixed-rate mortgage actually hit 8% for the first time since 2000. CNBC

So, do you want to buy a house? Mortgage Rates hit 8%. Thanks Joe Biden. Rates haven’t been this high since 2000. Where were the rates when Biden came into office two years ago? This from CNBC.

The average rate on the 30-year fixed was as low as 3% just two years ago. To put it in perspective, a buyer purchasing a $400,000 home with a 20% down payment would have a monthly payment today of nearly $1,000 more than it would have been two years ago.

So if your looking to buy a home, just thank Joe and Bidenomics.