Prior to 2020, just ~4% of all outstanding mortgages had an interest rate below 3%.
Now, a massive ~23% of all outstanding mortgages have an interest rate below 3%.
The share of borrowers that have an interest rate of 4% to 5% fell from 40% to 20%.
Meanwhile, just 9% of all… pic.twitter.com/820WdhZgDu
— The Kobeissi Letter (@KobeissiLetter) September 24, 2023
— Win Smart, CFA (@WinfieldSmart) September 25, 2023
Views:
74