Breaking News: Mortgage Rates Surge, Eric Cartman Reacts!

Mortgage Rates on the Rise

Well well well what do we have here? Mortgage rates have shot up like me at a buffet! According to Mortgage News Daily the average rate on the 30 year fixed mortgage is now a whopping 7.14%! Talk about a real kick in the nuggets!

Inflation Strikes Again

Looks like inflation is back with a vengeance! The government report on wholesale prices has shown that inflation is still persistent and hotter than a Taco Bell fart. Analysts didn't see it coming just like when Kenny gets killed every episode.

Optimism Turns to Skepticism

The spike in rates has caused a major shift in sentiment. Matthew Graham the chief operating officer at Mortgage News Daily says we've gone from optimism for lower rates to skepticism. It's like going from unlimited Cheesy Poofs to a kale smoothie. I don't like it one bit!

Buyer Traffic Takes a Hit

Lower interest rates were driving buyer traffic to model homes like a herd of Coon and Friends fans but now it looks like that traffic is gonna hit a major roadblock. This increase in rates might scare away potential buyers faster than you can say 'screw you guys I'm going home!'

Builders' Optimism Fades

Homebuilders were feeling pretty good about lower rates but now they're not so sure. The National Association of Home Builders reported that builder sentiment had been rising but with these rates creeping back up they might be feeling more like Kenny after he gets killed again.

Spring Market Under Threat

Just when we thought the spring housing market was about to bloom like a beautiful flower these higher rates could turn it into a wilted weed. President's Day weekend is supposed to be the kickoff but with rates going up it might be more like a fart in the wind.