Rent prices in the U.S. are rising at the fastest pace in decades, slamming U.S. households across the country, according to data from the Bank of America Institute.
Newsfeed: Surging rents squeezing middle-class Americans the hardest, study shows Read More »
A high share of home sellers dropped their asking price in July, particularly in pandemic boomtowns, as they struggled to match their expectations with the reality of the cooling housing market.
Newsfeed: 70% of Boise Home Sellers Dropped Their Asking Price in July Read More »
The gathering consensus that inflation has peaked is spurring a FOMO moment for bonds, with investors eager to buy and chatter that 10-year Treasury yields could drop all the way back to 2%. That sort of Treasuries rally is unlikely unless China’s slowdown worsens.
Newsfeed: Forget The Fed, China Is Why US Yields Can Hit 2% Read More »
I write about mortgage rates every week, but recently, I’ve heard some sources chattering about what’s called the “real mortgage rate.” In a nutshell, this is the interest rate on mortgages minus the current inflation rate. “With inflation running so high right now, even though mortgage rates have risen, the real mortgage rate is a negative number,” says Kate Wood, home expert at NerdWallet. When the CPI was at 9.1%, for example, “if you had a mortgage with a 5% interest rate, your real mortgage rate is -4.1%,” she says. (See the lowest mortgage rates you can get here.)
The US mortgage industry is seeing its first lenders go out of business after a sudden spike in lending rates, and the wave of failures that’s coming could be the worst since the housing bubble burst about 15 years ago.
Newsfeed: US Mortgage Lenders Are Starting to Go Broke Read More »
The US mortgage industry could be on the cusp of a bust cycle as the Federal Reserve’s most aggressive interest rate hikes in decades have sent mortgage loan application volume crashing.
Newsfeed: Private Mortgage Lender Bust Begins As Loan Applications Crash Read More »
Today, Governor Ron DeSantis announced Florida’s unemployment rate dropped to a historic 2.7 percent in July as the state’s job creation skyrocketed. Florida’s July 2022 unemployment rate is the lowest since February 2020 and this level has only been reached three times since Florida began recording unemployment data in 1976.
Even with oil prices now around $95, and commodities across the board dropping amid bearish economic prospects, a lineup of analysts still see another bull run by year’s end.
Newsfeed: Wall Street Sees Another Big Commodities Rally In 2022 Read More »
Another month, another plunge in housing.
Hot on the heels of the latest catastrophic homebuilder sentiment print and plunging single-family starts and permits, analysts expected existing home sales to accelerate their recent decline with a 4.9% MoM drop in July.
Existing-home sales sagged for the sixth straight month in July, according to the National Association of REALTORS®. All four major U.S. regions recorded month-over-month and year-over-year sales declines.
Newsfeed: Existing-Home Sales Retreated 5.9% in July Read More »