Majority of US consumers will ‘struggle’ to make ends meet, investment expert says During an interview on “Mornings with Maria” Adviser Investments CIO Jim Lowell said that there may be a bifurcated recession, where the top 1 to 15% of …
by confoundedinterest17 Thanks to The Federal Reserve helping to raise mortgage rates through the roof, mortgage applications are going down. From the MBA: Mortgage Applications Decrease in Latest MBA Weekly Survey. Mortgage applications decreased 8.3 percent from one week earlier, according to …
by confoundedinterest17 For the moment, Fed Chair Jerome Powell and several Fed governors are singing “No sugar tonight” for the economy. As The Fed sings “No sugar tonight” exemplified by the number of expected Fed rate hikes by February 2023 has grown …
h/t silvertomars
by BoatSurfer600 It’s the Fed’s way of getting the housing bubble under control before it tears up the financial system again:
by confoundedinterest17 There is one song that sums up the mortgage banking industry with proposed tightening of Fed monetary stimulypto: T-R-O-U-B-L-E. Mortgage applications decreased 5.0 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage …
The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($647,200 or less) increased to 5.20% last week from 5.13%. Refinance demand fell another 8% for the week and was 68% lower than the same week one …
by confoundedinterest17 Fortunately, I refinanced my home mortgage while Trump was still President. When Biden was installed as President, the 30-year mortgage rate was 2.88% (according to Bankrate). It has now risen to 5.25%. The Federal Reserve is now expected to …
by confoundedinterest17 WASHINGTON (AP) — Long-term U.S. mortgage rates continued to climb this week as the key 30-year loan rate reached 5% for the first time in more than a decade amid persistent high inflation. The average 5% rate on the …
by silvertomars https://www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm The Fed’s balance sheet is 500% larger, so there is plenty of room for the currency to drop and payments to go up!
by confoundedinterest17 Today, the US Treasury 10-year yield exploded upwards by over 12 basis points. With it, the 30-year mortgage yield is above 5%. And MBA Mortgage Purchase Applications are actually increasing. Today’s bond market summary shows the 10-year Treasury yield …
Mortgage rates are surging at the fastest rate since 1987, pricing out more than 16 million potential homebuyers, in the latest dose of bad economic news for resident Biden and Democrats ahead of the midterm elections. The Federal Home Loan …
by confoundedinterest17 Mortgage interest rates continue their meteoric rise (along with home prices), the result of which is a tanking of consumer confidence in home buying. The University of Michigan survey of consumers about buying conditions for housing remains depressed …
by Dismal-Jellyfish This looks, to my non-lawyer brain, to be a way to reduce the member’s margin requirement. These mark-to-market items and others are moved from “Required Fund Deposit” so they won’t count against the margin requirement, as stated here: …
by confoundedinterest17 The housing and mortgage markets are addicted to gov. MarketWatch had an interesting piece on mortgages entitled “Here’s how much a 40-year mortgage would save you each month vs. a 30-year loan. And the ultimate cost.” To make a long …
by confoundedinterest17 As the US Treasury 2-year yield hits 2.507% (up from 0.128% when Biden was installed as President) and the number of Fed rate hikes over by February 2023 hits 9.6, Bankrate’s 30-year mortgage rate breached the 5% mark at 5.04%. …
Mortgage refinancing is rolling over your current home loan into a new one with a better rate. Servicing a mortgage means paying a loan from the bank in monthly installments with the interest of a fixed period. When you refinance, …
by confoundedinterest17 Mortgage applications are going down as expectations of monetary tightening send mortgage rates soaring. Mortgage applications decreased 6.3 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending April …
LISTEN NOW: U.S. coal prices reach $100 a ton — the highest in 13 years. Listen and follow the @CNBCClosingBell podcast here or on your favorite podcast platform: https://t.co/uUvsdOSbGp pic.twitter.com/PXpdAk3a6Y — CNBC (@CNBC) April 5, 2022 Alert: 30-year fixed mortgage …
by confoundedinterest17 As The Federal Reserves twiddles it thumbs, US housing continues to burn … hot! The Case-Shiller National home price index (HPI) grew at a 19.17% YoY rate in January despite mortgage rate increases. Where? Phoenix, Tampa and Miami …
by confoundedinterest17 Inflation under President Biden (aka, Bidenflation) has hit 7.9%, the highest in 40 years. And no Joe, the inflation surge was well underway before Russia invaded Ukraine on February 24, 2022. As The Federal Reserve is allegedly going …
by confoundedinterest17 US pending home sales for February surprised to the downside, down -4.1% MoM and -5.4% YoY, as mortgage rates soar. And inventory remains MIA. Not surprisingly, March median sales prices are up 17% YoY. University of Michigan buying conditions for …
by confoundedinterest17 We’ve got Trouble in Potomac City! The US Treasury 10Y-5Y curve is going deeper into inversion. The short end of the Treasury curve is rising, as expected, but declining at the 5 year tenor and beyond. The aggregate Treasury …
by confoundedinterest17 US housing is getting simply unaffordable. US mortgage rates are soaring, US home prices are soaring, The Fed’s balance sheet is still growing, and US average hourly earnings are growing at a fraction of home price growth. The unafforable nature …
by confoundedinterest17 Well, Powell and The Fed Gang failed to tackle inflation with its 25 basis point increase in their target rate. The result? Inflation is still roaring and REAL Treasury yields remain NEGATIVE (nominal Treasury yields – inflation). In fact, the US …
by VernonnonreV Our home values are over inflated and millions are refinancing to cash out this new value. When home prices stabilize – millions will be upside-down, again. Disaster. all signs point to another disastrous mortgage crash. Photo from https://www.freddiemac.com/research/insight/20211029-refinance-trends Some …
by confoundedinterest17 Mortgage applications decreased 1.2 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending March 11, 2022. The seasonally adjusted Purchase Index increased 1 percent from one …
by confoundedinterest17 Bankrate’s 30-year mortgage rate rose to 4.43%, up 55% under Biden/Pelosi/Schumer’s reign of error. Thanks to the rising Fed rate hikes priced-in the market.
by confoundedinterest17 Yes, it is the much anticipated Fed Week! The Fed Open Market Committee (FOMC) will announce it decision (probably the first rate hike under Biden of 25 basis points). This morning, the 10-year Treasury yield rose by 11.1 …
by confoundedinterest17 The mayhem caused by the Russian invasion of Ukraine is helping drive down interest rates … for the time being … and this is helping push down mortgage rates and increase mortgage applications. Mortgage applications increased 8.5 percent …