US 30yr Mortgage Rate Rises To 6.11%, Highest Since November 2008 (Fed Giveths And Fed Taketh Away)

The mortgage and housing markets are punch drunk after excessive monetary stimulus since last 2008 and the advent of Fed QE. As The Fed takes away the massive monetary punch bowl, mortgage rates have risen to the highest since November 2008. And with the withdrawal of monetary stimulus (raising Fed Target Rate), mortgage purchase applications have declined.

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