Ben Carson Tells Newsmax: White House Displays Disconnection From Reality
Former Housing and Urban Development Secretary Ben Carson argues that U.S. mortgage rates will continue to rise because the Biden administration is “out of touch with reality.” Carson believes that the administration lacks understanding of the consequences of its actions. This comes as the average long-term mortgage rate in the U.S. has reached its highest level in more than 20 years. The rate for a 30-year home loan rose to 7.09% from 6.96% the previous week and was 5.13% a year ago. High rates can make housing even more unaffordable for many Americans. Economists predict that mortgage rates could potentially reach 8%. Overall, Carson suggests that the previous administration’s deregulation contributed to a strong economy and believes that reestablishing such policies can quickly reverse the current situation.
