Housing connundrum defined

Currently, just 3.3% of mortgages in the US are delinquent.

But how, mortgage rates are at a 20-year high?

The answer to this question is that 90% of borrowers have rates below 5%.

This is why we are NOT in a 2008-style housing bubble.

It will take external factors such as a… pic.twitter.com/VelEFUZjYY

— The Kobeissi Letter (@KobeissiLetter) September 17, 2023