Current 30-year fixed mortgage is 6.28%. It was 2.84% just a year ago.
— Patrick Bet-David (@patrickbetdavid) September 17, 2022
Since most people buy a house based on monthly payment, here’s what it means.
$500,000 loan at 2.84% = $2,460/mo
Today:
$350,000 loan at 6.28% = $2,451/mo
Essentially there’s a 30% correction coming.