Currently, as I record this video, the average 30-year mortgage rate in America stands at 7.5%. This rate marks the highest point since December 2000, which was approximately 23 years ago. Now, what makes this situation particularly striking is that individuals venturing into the housing market today have likely never experienced or even been aware of interest rates at this magnitude, and it's entirely plausible that their parents never did either. We're witnessing a generational high in mortgage rates, which has had an obvious and profound impact on the real estate market. Now to add fuel this this massive fire, the situation has gotten exponentially worse when we factor in the recent trajectory of housing prices over the past three years. This deadly combination of rising interest rates and escalating prices has created a cooking time bomb. One that is just minutes away from a flash that engulfs the entire house of cards.
