2 Question Tuesday – 08/22/2023 – What Does Highest Mortgage Rate In 20 Years Mean For The Economy and Stocks Are Down 5% Will We Test Last Year's Low?

Welcome to 2 Question Tuesday. This week’s client submitted questions were:

  1. What does highest mortgage rate in 20 years mean for the economy?
  2. Stocks are down 5% will we test last year’s low?

Phil, Mike, and Larry discuss the implications to the economy as U.S. mortgage rates hit the highest level in 20 years, which combined with a housing inventory shortage has pushed housing affordability to its worst point since 1984. They then talk about how the stock market has fallen 5% since the end of July, if this drop will hit the low last seen in October, and how long will the recovery take?

Submit your questions to question@2questiontuesday.com

As always, if you have any questions at any time, please feel free to call your adviser directly at (845) 691-4035.

Host Lawrence Carrel’s books available available at Amazon.com