The US mortgage industry is seeing its first lenders go out of business after a sudden spike in lending rates, and the wave of failures that’s coming could be the worst since the housing bubble burst about 15 years ago, per Bloomberg.
— unusual_whales (@unusual_whales) August 21, 2022
Current drawdown for @MBAMortgage mortgage applications index is nearly as worse as plunge we saw during pandemic shutdown (in terms of % drop) pic.twitter.com/HCKf0fkmLq
— Liz Ann Sonders (@LizAnnSonders) August 22, 2022
https://twitter.com/mkt_sentiment/status/1561340858921877504
China demolishing unfinished buildings.. beautiful Keynesianism at work pic.twitter.com/y9LE4pYQUG
— Igor Schatz (@Copernicus2013) August 19, 2022
U.S. dollar is having its best year thus far since 1997 pic.twitter.com/M4mV1j2gek
— Liz Ann Sonders (@LizAnnSonders) August 22, 2022
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US existing home sales are in free fall… and this time it is hardly due to lack of inventory… there is already a large glut of unsold new homes…
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