The Julia La Roche Show · Saturday, September 26, 2026
Chris Whalen states that mortgage rates consistently above 7% are the new normal, explaining that they typically track the 10-year treasury yield plus two points. He anticipates significant structural changes in the housing market, including industry consolidation and job losses, as a result of this shift.
“Yeah, this is the new normal. They've been above 7% for a while.”
“People are going to have to get used to the fact that we're back to where mortgage rates were 15, 20 years ago.”
“You're going to see a lot of structural changes. You're going to see a lot of consolidation in the industry. We've already seen it, but you're going to see more. Uh, you're going to see head count going down in the industry.”