Will you ever be able to buy a house?
Post Reports
The Washington Post
4.4 • 5.1K Ratings
🗓️ 27 October 2022
⏱️ 22 minutes
🧾️ Download transcript
Summary
Today on “Post Reports,” we talk about mortgage rates, which are the highest they’ve been in two decades – what that means for the housing market, and why it could make housing costs even higher for renters and buyers alike – at least in the short term.
Read more:
Mortgage rates topped 7 percent this week, the highest level in 20 years — and the latest sign that the Federal Reserve’s aggressive moves to slow the broader economy are hitting the housing market hard already. Fed reporter Rachel Siegel breaks down what this means with our guest host, national security reporter Shane Harris.
Transcript
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| 0:00.0 | Hey, it's Martine. |
| 0:03.6 | A quick message before we start today's show. |
| 0:05.9 | You may have noticed I am handing over the hosting reigns for a few weeks while I'm off |
| 0:10.6 | on a reporting trip, working on a story that I'm so excited to share with you all. |
| 0:15.5 | Until I'm back at the end of this month, you'll be hearing from my official new co-host |
| 0:19.4 | Allahe Azadi, as well as a whole crew of other guest hosts from around the newsroom, bringing |
| 0:24.8 | you the most interesting and insightful stories of the day. |
| 0:28.2 | Today, we've got reporter Shane Harris on tap. |
| 0:31.8 | You know him, he is a great friend of the pod and we're so excited to have him as a guest |
| 0:35.8 | host. |
| 0:36.8 | With that, enjoy the show. |
| 0:38.4 | Is it tough for you as a reporter and also a person having to live in all of this to |
| 0:42.7 | like separate those things? |
| 0:44.5 | Well, I recently moved in with a roommate into a rental to save a little bit of money |
| 0:52.2 | and I sometimes look around the house and think that I would never be able to buy it. |
| 0:56.4 | So, friends are certainly asking, you know, when they'll be able to have a shot at buying |
| 1:01.8 | a house and I don't have any good answers for them. |
| 1:07.4 | Rachel Siegel covers the Federal Reserve and the Economy for the Post, which means that |
| 1:11.2 | for months now, she's been covering the Feds Fight Against Inflation and how that's |
| 1:15.6 | showing up in mortgage rates. |
| 1:18.2 | Today we learned that the average rate for a 30 year fixed mortgage, the most popular |
| 1:22.7 | home loan, crossed 7% for the first time in 20 years. |
... |
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