Biden boasted of a drop in mortgage rates in the US that never happened
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Biden announced a fall in mortgage rates in the US that did not happen
US President Joe Biden was once again embarrassed while speaking to residents of the American state of North Carolina.
The head of state tried to boast about his team’s successes in the economic sphere, announcing a decrease in inflation in the country, but, deliberately or accidentally, he got the numbers wrong.
“Inflation continues to decline, mortgage rates are falling and will fall further,” Biden said.
However, he did not specify that this was a slight decline after a serious upward surge. Thus, mortgage rates are now about 6.6% compared to 7.8% per annum in October 2023, but when Biden came to power they were 2.65% per annum.
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