Mortgage applications dropped another 2.7% last week. The 30-year fixed rate hit 7.50%.
People forget how sensitive housing is to rates. A year ago, buyers were stretching at 6%. Now at 7.5%, the math just doesn't work for most families. Monthly payments on a median home are up 60% since 2020.
This isn't just about Fed policy anymore. It's about affordability breaking in real time. When rates were 3%, everyone could play. At 7.5%, only the wealthy or desperate are left in the game.
Housing freezes don't show up in headlines. They show up in applications nobody files and homes nobody buys.
People forget how sensitive housing is to rates. A year ago, buyers were stretching at 6%. Now at 7.5%, the math just doesn't work for most families. Monthly payments on a median home are up 60% since 2020.
This isn't just about Fed policy anymore. It's about affordability breaking in real time. When rates were 3%, everyone could play. At 7.5%, only the wealthy or desperate are left in the game.
Housing freezes don't show up in headlines. They show up in applications nobody files and homes nobody buys.