30 year mortgage rate hits 8.5% as top economist admits Fed’s inflation fight is 'benefiting Wall Street, crushing Main Street'
A stunning admission from inside the Federal Reserve’s inner circle has gone viral after a senior economist publicly confessed that the relentless rise in the 30 year mortgage rate—now the highest in over two decades—isn’t an accident but part of a calculated strategy to cool the economy at the expense of everyday homeowners. While experts told the public that rate hikes were about curbing inflation, leaked internal memos suggest the primary beneficiaries are major banks and hedge funds, which have profited billions by betting against mortgage-backed securities. Meanwhile, millions of families are locked out of the housing market, unable to refinance or buy. As the 30 year mortgage rate continues to climb, the question being asked in viral threads is no longer ‘when will it drop?’ but ‘who gets paid when yours does?’