Musk's ‘Zuckerberg moment,’ mortgage rates, and Google’s space bet

Now, uh, outside of tech, I've been watching mortgage rates all week.

It's been, it's been a crazy week, guys.

And I have to admit something to you, and I didn't really wanna do it, but I'm gonna do it anyway.

It's Friday, and I'm not happy about it.

All week, I've been standing up here talking about the rip higher in 10-year Treasury yields and what it may mean to tech stocks like Nvidia and Oracle, and what it may mean to the Federal Reserve on the interest rate front.

Not once did I take a second and look at what this is all doing to the mortgage rate market.

That is my bad.

I thank my man Rick Rieder over at BlackRock for coming on Saucy Unleashed, shout out Rick, on Thursday and mentioning the US housing market is frozen.

His word, not mine, and I'm just gonna borrow it.

Right after I left this palatial set, you can see it.

I mean, look at this set.

It's palatial.

I got a fridge, I got trinkets over there, you name it.

Right after I got off this set, I checked back in on mortgage rates.

What I saw was uglier than an upkept-- unkept lawn at a neighbor's house.

I hate unkept lawns.

It really aggravates me.

The average interest rate on a 30-year mortgage is up to seven point four five percent.

Look at that chart.

You wanna get depressed? Take that chart and share it with your friends right now on X.

You should do it.

Its highest level in three years.

This officially pushes the payment on a five hundred thousand dollar mortgage to a whopping three thousand four hundred and seventy-nine dollars a month.

By comparison, the same mortgage came with a payment of two thousand nine hundred and ninety-five dollars a month just seven months ago.

Still a lot.