Mortgage Rates Take Off to the Moon: Will You Afford the Ride?

Mortgage Rates Blast Off

Good news everyone! Mortgage rates have soared back up leaving borrowers feeling like they're in a spaceship zooming towards Space Titanic. The average contract interest rate for 30 year fixed rate mortgages decided to make a 0.04% jump giving homeowners a thrill ride.

Space Purchase & Refinance Crunch

Oh my yes! Purchase and refinance applications took a nosedive like Bender diving for shiny metal scraps. Borrowers are tighter than a squeeze on Mom's purse with limited homes for sale causing more stress than Zoidberg's medical bills.

Rocketing Activity

With mortgage application volume plummeting faster than Fry into a cryogenic chamber folks are wondering if they can still afford the entrance fee to the housing market rollercoaster. The demand rollercoaster is on a wild ride folks!

Fed's Galactic Intervention

Neel Kashkari the Minneapolis Federal Reserve President gave a signal that interest rates could be going on a joyride of a few more months. Who knows when we'll reach the loan galaxy's end? Hang on tight it's going to be a bumpy (house) ride!