… their economic circumstances and then they go out and they spend and they buy houses, they buy cars. And if you look at the housing data over the summer, then Income growth is outpacing the mortgage rates and housing starts and purchases and permits are way up. And so once again, you know, absolutely true, mortgage rates have to come down. And as we get inflation down to 1 2%, then that's where mortgage rates are going to head towards, you know, that plus two or three. (06:14–06:23)
STATEMENT
Asserts that income growth is exceeding mortgage rates, with increases in housing starts, purchases, and permits.
This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.
