Mortgage rates have been on an upward trend in 2021. January started off with a record-low 30-year mortgage rate of 2.65%. But by March 4, rates spiked above 3% for the first time in 7 months. … Experts still predict rates will hover around the low-3s for the rest of the year.
Gas prices are up as crude oil continues to rise. Inflation is common in Socialist countries. The problems inflation brings are many.
- “Inflationary pressures intensified as supplier delays and shortages pushed input prices higher.”
- “The rate of input cost inflation [in January] was the fastest on record (since data collection began in October 2009), as soaring transportation and PPE costs were also noted.”
- Amid stronger expansions in output and new orders, manufacturers experienced “significant supply chain delays, raw material shortages, and evidence of stockpiling at goods producers” that “pushed input prices up.”
Now, throw in a $1.9 trillion so-called COVID relief bill and it’s the gasoline on the smoldering fire.
The people we elect to Congress care only about one thing, being reelected. Most are attorneys who practice wordsmithing, not business people who see the pitfalls of their actions.
