Mortgage Rates Hit Survival Mode! Can Your Wallet Survive?

Mortgage Rates: An Economic Cliffhanger!

Right listen up! The housing market’s gone rogue. We're talking mortgage rates climbing faster than me scaling a frozen waterfall with only a Swiss Army knife and sheer grit. The average 30 year fixed mortgage just shot up to 7.1%! That's the highest we’ve seen since mid February. Remember improvise adapt overcome! If you can’t afford the house maybe try building a shelter out of discarded tyres and hope for the best.

Tariff Tango: A Financial Freefall!

This week’s been a rollercoaster folks. One minute we’re scaling the peak of lower rates the next we’re plummeting into a ravine of Trump's tariff induced chaos. He slapped tariffs on everything but the kitchen sink then changed his mind faster than I can skin a wild rabbit. The Chinese tariffs are still higher than Everest sitting at 145%. Remember kids sometimes it's best to eat it raw!

Bond Market Blues: Worse Than Eating Raw Eyeballs!

Even a cooler than expected inflation report couldn't save us. Bonds started selling off faster than you can say “I’m Bear Grylls and I’m about to do something incredibly stupid.” Matthew Graham from Mortgage News Daily says it’s been the worst week for 10 year yields since 1981 unless your career began before 1981 you just lived through the worst week you've ever seen in terms of the jump in 10 year yields! Which is saying something! To put that into perspective that’s like being stuck in the Sahara with only a thimble of water – grim!

Consumer Confidence: Plummeting Faster Than My Ratings!

As if that wasn't enough consumer sentiment has taken a nosedive. People are feeling less confident than a vegan at a barbecue. Expectations for inflation jumped from 5% to 6.7% hitting levels not seen since… you guessed it 1981! Folks we're facing a financial blizzard out there. You’ve got to be resourceful. You’ve got to be tough. You’ve got to be prepared to… well maybe not drink your own urine but definitely think outside the box!

Spring Housing Market: DOA?

And this is all happening smack dab in the middle of the spring housing market! For most people a home is the biggest investment they’ll ever make. But with rates this high and consumer confidence this low things are looking bleak. Nancy Lazar from Piper Sandler said it best: 'Forget about housing in this environment.' When a financial expert says “forget about it” you know you’re in trouble! Time to find alternative solutions!

Survival Tips: More Important Than Ever!

So what’s a survivor to do? Stay calm. Assess the situation. Adapt. Maybe now’s the time to consider a smaller property a fixer upper or even… dare I say it… renting! And remember resourcefulness is key. Learn to forage for wild berries (but be sure they’re not poisonous!) build a fire (without matches of course!) and always ALWAYS be prepared for the unexpected. Because out there in the financial wilderness it’s survival of the fittest! And I'm here to help you survive. Don't quit be fit!