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 »
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 »
Black Knight publishes a monthly Mortgage Monitor report that contains interesting information on the mortgage market and housing.
Mortgage costs are the most expensive in years as the Federal Reserve embarks on aggressive quantitative tightening, implying that the souring macroeconomic climate may not support extraordinary home price growth for much longer as the national inventory of homes increases for the first time in years, according to Realtor.com data.
Newsfeed: “Major Turning Point” – US Housing Inventory Rises For First Time Since 2019 Read More »
Mark Spitznagel is paid to be prepared for when the market’s weakest links are exposed in a big way.
Newsfeed: Black Swan Investor Is Watching for ‘Greatest Credit Bubble’ to Pop Read More »
Apartment construction activity in the U.S. is at a record high, led by some key markets that are logging significant building rates.
Newsfeed: Markets With the Most Multifamily Construction Activity Read More »
Stocks fell on Wednesday, dialing back earlier gains as investors continued to digest the latest U.S. inflation data.
The current housing market is an interesting one, to say the least. Right now, home prices are up on a national level while borrowing has gotten fairly expensive. That’s putting a lot of would-be buyers in a tough spot.
Newsfeed: 3 Real Estate Trends to Watch Out For in May Read More »