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Consumer confidence drops 6.7% as mortgage rates rise above 7%

  • Consumer confidence fell 6.7%, according to the post.
  • Mortgage rates rose above 7% amid higher yields.
  • @KennyPolcari is predicting housing, according to the post.

Consumer confidence fell 6.7%, highlighting the uneven effects of a K-shaped economy, in which higher earners remain relatively comfortable while others face greater financial pressure. Rising yields and mortgage rates above 7% are adding strain to housing, with @KennyPolcari predicting developments in the sector.

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