The economist, Alexander Nazarov, warned of the outbreak of the mortgage crisis in the United States due to high interest rates.
The economist added that the 30-year mortgage interest rose to 6. 75%, the highest level since 2006.
As evidence of a possible mortgage crisis, the expert pointed to three numbers:
The number of applications for mortgage loans this week decreased by 14. 2% compared to the previous week.
– When compared to the same week last year, refinancing requests for previously obtained loans declined by 86% (seven times!) throughout the week and by 18% during the week.
The seasonally adjusted purchasing index fell by 37% from the same week last year and by 13% during the course of the week.
“There are reasons to expect a severe decrease in the amount of housing construction, the bankruptcy of contractors, high unemployment rates, the formation of a banking crisis, or the restoration of quantitative easing and acceleration of inflation growth,” the expert said.
Author: RT.
3 figures that could be a sign of a catastrophe in the US real estate market
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