🚨 7% mortgage rates aren't coming.
THEY'RE ALREADY HERE.
Mortgage News Daily has the top-tier 30-year fixed at 7.22% today. 😳
And this is hitting a housing market where sales were already weak and inventory was already building.
But here's what people keep missing:
🏦 The Fed does NOT directly control mortgage rates.
📈 Watch the BOND MARKET.
The 10-year Treasury crossed 5% this week, and tomorrow we get the Fed decision plus Kevin Warsh's comments.
Things could get VERY interesting. 👀
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Russell McDonald | NMLS 290837 | Broker CA DRE 01150730
Wymac Capital Inc | NMLS 18766 | Broker CA DRE 01121628
Real Estate Broker – CA Dept of Real Estate