The housing market is headed back to a 1980s-style recession, Wells Fargo says—and it's all because of 'higher for longer' mortgage rates

“The residential sector now appears to be contracting alongside the recent move higher in mortgage rates,” the bank's economists wrote.

The housing market is headed back to a 1980s-style recession, Wells Fargo says—and it's all because of 'higher for longer' mortgage rates
“The residential sector now appears to be contracting alongside the recent move higher in mortgage rates,” the bank's economists wrote. Read More