So we kick off tonight with housing and a new opinion on the impact of rapidly rising Interest Rates. Bank analyst dick bove says it makes no sense to think it was any effect on the Housing Market so why is lowering his rating on one of the major mortgage lenders just today . Joining me now is dick bove. Always such a pleasure to have you on the show, thank you for coming on. Thank you, melissa. Melissa why are you making this about Mortgage Rates . Why will it knocked the legs out from the housing recovery . Think about it. During the housing boom, the average Mortgage Rate was 6. 5 . If you take the average Mortgage Rate, it was 6. 75 . The average rate since freddie mac publish the figures in 1971, 8. 6 . The current Mortgage Rate up a lot from the bottom is somewhere around 4. 35, 4. 50. Way below what the average has been for any period in the last 30, 40 years. It is pretty hard to believe an increase in Mortgage Rates causing a slowdown in housing. There are other factors, howev
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