Replies to post #743239 on Mr Cooper Group Inc fka COOP

[sunshinevibrations]

Yes, you're right about the skyrocket in the mortgage rates under Biden. Here's a good recap of why:

The Fed cut its benchmark interest rate to near zero to bolster the U.S. economy during the COVID crisis, but mortgage rates spiked as the central bank aggressively hiked rates to fight inflation triggered by a bounceback from the pandemic and Russia's invasion of Ukraine.

The latest rise in mortgage rates follows a sharp uptick in the 10-year Treasury yield, which lenders use to price rates on mortgages and other loans. The yield has been above 4 percent this month and climbing.

Mortgage Rates Have Skyrocketed Under Joe Biden, Chart Reveals

As I said, the bond yields directly affect the mortgage rates. Of course there are other factors affecting the economy, but those yields are a primary factor in the actual rates.

I'm not sure where you think I said anyone can buy a house now. I don't believe that at all.