The Federal Reserve will probably have to inflict much more pain on the economy to get inflation under control. Growth is already slowing in response to the Fed’s repeated interest rate increases, with the housing market softening, technology companies curbing hiring and unemployment claims edging up.
Newsfeed: Fed to Inflict More Pain on Economy as It Readies Big Rate Hike Read More »
The housing market has been keeping its head down, keeping calm, and carrying on in the face of the biggest rate spike since the 1980s. The ability to tune out rising rates is nothing new for home prices, as discussed a few weeks back.
Newsfeed: Big Shift in Housing Numbers. Scary or Welcome? Read More »
Brent Crude prices could jump to well above $150 per barrel if Russia’s oil exports fall off a cliff in the coming months, according to Bank of America.
Newsfeed: BofA: Sharp Decline In Russian Exports Could Send Oil Above $150 Read More »
Last year, I pointed out that the foreclosure moratorium, combined with the expiration of a large number of forbearance plans, would NOT lead to a surge in foreclosures and impact house prices …
Newsfeed: Update: Delinquencies, Foreclosures and REO Read More »
US mortgage rates posted the biggest drop in more than two years, offering homebuyers a slight reprieve from this year’s massive surge in borrowing costs.
Newsfeed: Mortgage Rates Fall to 5.1% in Biggest Drop Since April 2020 Read More »
As I noted last year, Inventory will Tell the Tale about the housing market. And inventory levels are now up year-over-year and increasing quickly.
Newsfeed: Realtor.com Reports Weekly Inventory Up 9% Year-over-year Read More »
After new- and existing-home sales tumbled, it should have been no surprise that pending home sales dropped in April.
After dismal earnings by such mammoth retailers as Walmart, Targets and this morning’s “horror report” by Abercrombie and Fitch, on Tuesday afternoon we actually got a solid report by Nordstrom, which not only printed strong earnings but also hiked guidance sending the stock higher as much as 12%.
Newsfeed: US Middle Class Is Shutting Down As Spending By The Rich Remains Robust Read More »
The Census Bureau reports New Home Sales in April were at a seasonally adjusted annual rate (SAAR) of 591 thousand.
Amid a slew of disappointing US Macro data, preliminary May US PMIs were expected to show slowdowns in btoh manufacturing and services, and the actual prints were worse than expected
Newsfeed: US PMIs Disappoint In May, Signal Growing Stagflation Fears Read More »