Mortgage Rates Howl Like a Noonwraith: Witcher's Guide to Surviving the Housing Market

A Coin Toss for Chaos?

Well damn. Looks like even the housing market's gone to the dogs. Or perhaps drowners considering the state of things. Mortgage rates those slippery devils have decided to climb higher than a noonwraith at midday. According to some eggheads – the Mortgage Bankers Association they call themselves – applications have dropped faster than a drunkard after a night at the Passiflora. Seems like folks are hesitant to sign their lives away when the cost keeps creeping up like a fiend in the dark.

Six Percent? What is This a Brothel?

The average interest rate for a 30 year fixed mortgage? A hefty 6.92%. That's almost as high as the number of times Dandelion has embellished my stories. And the points? Don't even get me started. It's like the banks are saying 'Toss a coin to your lender,' except the coin's a whole damn treasury. Apparently investors are spooked by this whole inflation business and who can blame them? It's all enough to make a Witcher reach for the White Gull.

Homebuying: A Roach Like Retreat

Homebuying applications are down 5%. Down I tell you! Even Roach knows when to run from a losing battle and it seems potential buyers are doing the same. Sure there are more listings but who wants a bigger selection of things they can't afford? It's like offering me a banquet when all I have is a rusty sword and an empty pouch. This spring season is turning out to be as lively as a graveyard at midnight.

Refinancing? More Like Refusing

And refinancing? Forget about it. Those applications are also taking a nosedive. With rates practically identical to last year the window of opportunity has slammed shut faster than a tavern door during a brawl. Seems like the only people benefiting from this are the dragons hoarding gold in their caves.

The Economist's Lament

Mike Fratantoni some fancy economist is blaming rising inflation and debt. Says investors are worried. Worried? I've faced down griffins basilisks and even politicians and *they* didn't worry me as much as this economic mumbo jumbo. At least with a griffin you know what you're getting: teeth claws and a bad attitude. This market? It's as unpredictable as a Dopplerganger.

Witcher's Wisdom: Weathering the Storm

So what's a Witcher to do? Best advice I can give: hold onto your coin keep a sharp eye on the market and maybe invest in some Gwent cards. At least you can win *something* in this cursed economy. And remember even the longest winter eventually gives way to spring. Just… maybe not this spring eh? Now if you'll excuse me I've got a contract to fulfill. Probably pays better than a mortgage these days.