Are the lower mortgage rates indicative of something other than the market? 

December 22 – The Wall Street Journal reported that mortgage rates have fallen to their lowest since June. 

The average rate on a standard 30-year loan dropped to 6.67 percent – about a quarter percentage point. 

Pat Ryan of NewsTalk 103.7FM pointed out, “Interesting timing here as we’re wrapping up 2023 and the president is looking for perhaps another four years. Oh look, the gas prices are going back down. Oh look, the mortgage rates are going back down. Oh Bidenomics is certainly making great strides into your life and don’t be fooled by that lie at all.”

Attorney Clint Barkdoll said, “Mortgage rates have been ticking down a little bit the last few weeks but they’re still at very high levels historically. You’re still in the high 6 to 7%. Mortgage demand is still very soft. There’s just not a lot of activity. Refinancings have dried up to almost nothing. Buys and sales are also way off. So mortgage rates are ticking down, that might fuel some activity.”

The Fed is suggesting they are expecting three rate cuts next year. 

Barkdoll continued, “So if that happens, as you would get into next summer, next fall, you might see these rates come down even further, but they’re still at much higher levels than they were even just a few years ago.”


Michele Jansen of NewsTalk 103.7FM added, “That’s the amazing thing to me, we know what they’re going to say, oh look mortgage rates are going down just oh, inflation is going down, they will tell you or costs are even going down. But when you still compare them year over year, they’re still remarkably high. So this slight trend of a decrease doesn’t say at all that these policies are working well.”

“Don’t be fooled,” Ryan warned. 

Barkdoll confirmed, “When you look at the big arc of these numbers, look over the last 30 years at inflation, gas prices, mortgage rates, we’re still at very historic, generational highs. Yes, they’ve come down the last few months, but we’re still historically at very high levels.”