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 »
Following the unexpectedly large decline in existing home sales (directionally not unexpected given the surge in mortgage rates, plunge in mortgage apps, slump in homebuilder sentiment, drop in building permits, and weakening in labor market signals that are emerging), analysts expected new home sales to slide 1.8% MoM in April.
Newsfeed: US New Home Sales Collapse In April Read More »
We are seeing a significant change in inventory, but no surge in new listings. This means the increase in inventory is due to a decrease in demand, likely because of higher mortgage rates.
Newsfeed: Final Look at Local Housing Markets in April Read More »
The signs that the U.S. economy is starting to fall apart are rising to the surface, further indicating that a recession is likely on its way.
Newsfeed: Economic Indicators, Led By Mortgage Rates, Are Flashing Red Read More »
There’s no way around it: if the Federal Reserve is going to get runaway inflation back under control, it’s going to cause some economic damage along the way.
Mortgage rates actually fell slightly last week, but the damage has already been done to housing affordability.
All these curveballs will further fragment the housing market. Oh for the good old days of a nice, clean housing bubble and bust as in 2004-2011: subprime lending expanded the pool of buyers …
Newsfeed: Curveballs In The Housing Bubble Bust Read More »
In the week ending May 12, mortgage rates rose for the ninth time in ten weeks. 30-year fixed rates rose by three basis points to 5.30%. 30-year fixed rates jumped by 17 basis points in the week prior.
Newsfeed: US Mortgage Rates Rise for the Ninth Time in Ten Weeks Read More »
A new study by Lending Tree found Generation Z (ages 18 to 24) are purchasing homes in America’s least expensive “flyover” cities while barely entertaining homeownership in pricey coastal cities.
Newsfeed: Gen Z Homebuyers Flock To These Inexpensive Metro Areas Read More »
US mortgage rates jumped again this week, extending a steep climb that is shutting some would-be homebuyers out of the market.
Newsfeed: Mortgage Rates in US Rise to 5.3%, Highest Since July 2009 Read More »