Fascinating chart of five-year mortgage rates

[GON]

Really interesting chart- what a spike upward in 2022. 5-year change in mortgage rates shows how significant move has been ... 3.58 percentage-point gain is larger than anything seen in past few decades.

 

[JeffKeryk]

what's amazing to me is, even though rates have risen (of course that's relative), interest write-offs are limited, etc, I thought home prices around here would take a beating.

Nope.
I understand I live in a unique place. All in, I'm glad I don't pay interest; I hate interest, even though it plays a big role.

 

[GON]

what's amazing to me is, even though rates have risen (of course that's relative), interest write-offs are limited, etc, I thought home prices around here would take a beating.

Nope.
I understand I live in a unique place. All in, I'm glad I don't pay interest; I hate interest, even though it plays a big role.

Study the single-family home prices from the highly inflationary 1977-1982 shows gains in single family homes prices every year, even with 30-year mortgage rates as high as 16 percent.

Higher mortgage rates historically have not led to declines in single family homes prices, just a decline in single family home price sales.

 

[GON]

Another chart-- one never saw before, but facinating chart and the why behind the rise.
n 2005, the median U.S. homeowner lived in their home for 6.5 years

In 2024, the median U.S. homeowner lived in their home for 11.8 years.