Mortgage rates dropped nearly one full percentage point from November levels, opening the market for as many as 3 million more homebuyers, Freddie Mac said.
But several recent news developments are creating the perception that the risk of a recession is on the wane and that could end the downward pressure on rates.
“Thirty years ago, we had Bob Hope, Johnny Cash, and Steve Jobs. Today we have no hope, no cash, and no jobs. We are all praying nothing happens to Kevin Bacon.” “Bringing home the bacon” is something that has become strained for tens of thousands in our biz when they lose their job. I’ve been deluged with Wells Fargo folks wanting to change their email to their home email, and while this has always given me insight (in advance, often) into companies closing, to be FTC compliant I don’t actually add emails: sign up personal emails here under the “subscribe” tab. Also, anyone displaced can post their resumes for free here where employers can view them for a nominal $75 fee for several months. Because, hey, there should still be a couple trillion in mortgages originated this year. Hear me out. Are you in debt? Join the crowd. U.S. households’ debt is now $16.5 trillion. Sensationalist headlines aside, it is up about 7 percent