Mortgage rates hit 7% as Iran war pressures housing market
Mortgage rates have reached 7%, but then again they're a tax write-off, if you can afford to pay your mortgage? Affordability, right? 🤷🤷🤯🤯 www.nytimes.com/2026/09/24/b...
TJ7We used to be able to write them off, but the tax laws changed and everyone gets a higher standard deduction. So unless your mortgage interest is unusually high, this deduction doesn’t help now.
JustJonesy2Remember TRUMP ended our ability to itemize of mortgage interest, limited salt deductions. They are trying to end home ownership.
Auntie Em2The max amount of SALT that a taxpayer can claim is $20k single, $40k married filing jointly. That’s hardly an incentive to buy a home. If you have a six-digit mortgage at 7% , you’d hit the threshold quickly. And then no local or state income taxes are deductible because you’ve met the threshold.
Interest rates on US 30-year mortgages topped 7% for the first time in almost two years, as surging yields across the bond market escalate concerns over housing affordability just weeks before nationwide elections. The jump in
Scott Horton37mortgage rates has been fuelled by rising yields on Treasury debt and global oil prices in response to inflationary pressures from continued crude supply disruptions caused by Donald Trump’s war in Iran.
Kuragari 2Rates went up the day the pedophile "won" the election. Incompetent morons made everything worse.
The average 30-year, fixed-rate mortgage rate rose to 7.03%, up from 6.3% a year ago. “A move from 6 to 7 is a big change,” said Stijn Van Nieuwerburgh, a finance professor at Columbia University’s Graduate School of Business, “and it will further dampen an already weak housing market.”
MantaHunk 🌎🏳️🌈☮️🟧3It might be a clue if... All hell is about to break loose, & we thought this was bad. Scaramucci was on Ari Melber show tonight talking about the interest rate crisis, $7 gas & winter energy crisis. The feds will raise interest rates again, most likely multiple times to try to control inflation.
Just_Vicki 🐾🎵💟🕉💙🌈🌻🇺🇲🇺🇦🇨🇦1The crash is already here.
I reported this morning that the average rate for a 30-year fixed mortgage was running about 7.3%, the highest level in two years. It's now at 7.45%
Billy Juggernaut Antifa3Shit. I’m moving to Portugal next year. I’m going to have to give my house away.
Ms Hart2looks like my 33 yr old will never get her own house ☹️
catirerubio.bsky.social1About 25 years ago,or so, mortgages hit 15 percent.
Social Greedia1My FICO score is well over 800, and it would still be almost too painful for me to purchase anything bigger than a doghouse right now.
