The Dow dropped 121 on Wednesday to finish the session at 31270, with the Nasdaq following suit to shave 3601 points to finish the brutal session at 12997 . The S&P closed down 50 to to wrap Wednesday trading at 3819
Well, it had to happen…Mortgage application demand stalls as interest rates rise...
Mortgage interest rates last week rose at the fastest pace in over a year, throwing cold water on already cooling demand. Thanks a lot, Dementia Joe! The average interest for a 30 Year fixed rate mortgage today as economic indicators from across the board show some ominious reaction to the bloated and grotesque Covid Pork Bill that the do nothing democrats are attemptiong to hoist on hard working Americans…more on this story as it develops on STEEL MONEY!
And as if that isn’t enough pain…Dementia Joe and his Captial Hill Crony Capitalists in the House & Senate have just reneged on the $1400 stimulus for all Americans….instead adding in additional eligibility limitations at the last minutes to some…in another blatant attempt to backpeddle while simultaneously DOLING OUT THE DRUGS to buy votes!
See, left wing cranks..even your own Installed Figurehead can’t keep promises he made to BUY YOUR VOTES! ….but again…I digress!
ACCORDING TO THE WALL STREET JOURNAL:
Biden signed off on the last-minute alterations to the direct payments, which would shrink the $1,400 checks to zero more quickly for individuals making more than $75,000 and married couples making more than $150,000, according to Democrats familiar with the changes. And if you’re 100k household was expecting a payment from BIDEN for your votes…then you get what you paid for…a giant GOOSE EGG (Cue the Banana Republic Theme)…because that’s what happens in a BANANA REPUBLIC!
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