The average interest rate on the most popular U.S. home loan climbed to its highest level since the 2008 financial crisis and purchase applications were down more than 15% from last year, Mortgage Bankers Association (MBA) data showed on Wednesday.
Newsfeed: U.S. mortgage interest rates jump to highest level since 2008 Read More »
Global bonds are on the cusp of entering a bear market after the fastest US inflation in four decades fueled bets the Federal Reserve will make its biggest interest-rate hike since 1994 this week.
Newsfeed: Global Bonds Are on Cusp of Bear Market as Fed Faces Reckoning Read More »
ATTOM, a leading curator of real estate data nationwide for land and property data, today released its May 2022 U.S. Foreclosure Market Report, which shows there were a total of 30,881 U.S. properties with foreclosure filings — default notices, scheduled auctions or bank repossessions — up 1 percent from a month ago but up 185 percent from a year ago.
Newsfeed: U.S. Foreclosure Activity Increases Slightly in May 2022 Read More »
Despite the Fed’s most aggressive interest rate hike since 2000, consumer prices continued to surge in May, adding to fears that inflation may be out of control. According to the U.S. Bureau of Labor Statistics, the Consumer Price Index for All Urban Consumers (CPI-U) increased 8.6 percent over the last 12 months before seasonal adjustment, the highest reading since December 1981.
Newsfeed: Americans Suffer Pay Cut as Inflation Outpaces Wage Growth Read More »
Federal Reserve Chair Jerome Powell is facing an increasingly grim calculus after yet another hot inflation reading last week: He probably has to push the economy into recession in order to regain control of prices.
Newsfeed: Powell Facing Choice Between Elevated US Inflation and Recession Read More »
Today’s US inflation print continued the trend of upside surprises, coming in at 8.6% YoY. In fact, in the past two years, there have been just two occasions when inflation came in below expectations, and judging by the market’s reaction, many more upside surprises lie in stock.
Newsfeed: Red-Hot US Inflation Is No Longer An Outlier Read More »
The latest inflation figures are due on Friday and will reveal if consumer prices are signaling a peak or will remain at four-decade highs that have financially devastated American households.
Kim Drotar is a public school teacher who rents an apartment in St Louis. But she doesn’t have the best neighbors.
Newsfeed: Rents across U.S. rise above $2,000 a month for the first time ever Read More »
Another week, another collapse in the pace of mortgage applications as the Mortgage Bankers Association (MBA) reports a 6.5% week-over-week drop in mortgage applications …
Newsfeed: Mortgage Applications Crash To 22-Year-Low As Monthly Payments Rocket Higher Read More »
While it is traditionally viewed as a B-grade economic indicator, the April consumer credit report from the Federal Reserve was another shocker especially after last month’s stunning surge in credit card debt which saw the biggest increase in revolving credit on record which is why we said that today’s G.19 print straight from the Fed would be just as important as Friday’s CPI print…