With homebuilder sentiment collapsing, it should be no surprise that analysts expected housing starts and permits to tumble in October, and they were right with starts dropping 4.2% MoM and permits down 2.4% MoM…
Newsfeed: US Single-Family Housing Permits Plunge To COVID Crisis Lows, Starts Slump Read More »
The US housing affordability crisis continues to worsen as mortgage rates skyrocket to two-decade highs while the cost of an average home is still at bubbly levels. Financing costs are through the roof, and anyone earning less than $100,000 has been priced out of homeownership.
It appears delusion and hope can only last so long – even when one’s salary depends on it – as US homebuilder confidence crashed to COVID lockdown lows in November after refusing to see what everyone else was seeing more months…
It’s that time of the month again. The ‘most important’ CPI print in history, since the last ‘most important’ CPI print, is expected to show some moderation in October data (but remains at extremely high historical levels in both headline and core), and it did just that and then some:
Mortgage rates fell sharply Thursday after a government report showed that inflation had cooled in October, prompting a decline in bond yields.
Newsfeed: Mortgage rates fall sharply to under 7% after inflation eases Read More »
House prices are sliding, and sales are plunging as the Federal Reserve hits the pause button on quantitative easing this year with the most aggressive interest rate hikes in four decades to cool the red-hot housing market spurred by low interest rates and tight inventories during the pandemic.
Newsfeed: Redfin Fires 13% Of Staff, Exits House Flipping As Downturn Accelerates Read More »
A normally dry research report jolted the gold market this week, when it pointed to massive but so far unidentified sovereign buyers. Central banks bought 399 tons of bullion in the third quarter, almost double the previous record, according to the World Gold Council. Just under a quarter went to publicly identified institutions, stoking speculation about mystery buyers.
Newsfeed: Mystery Whales Baffle Gold Market After Central Bank Purchases Read More »
Central banks globally have been accumulating gold reserves at a furious pace last seen 55 years ago when the U.S. dollar was still backed by gold. According to the World Gold Council (WGC) central banks bought a record 399 tonnes of gold worth around $20 billion in the third quarter of 2022, with global demand for the precious metal back to pre-pandemic levels.
Newsfeed: Central Banks Are Buying Gold At The Fastest Pace In 55 Years Read More »
The U.S. Federal Reserve raised interest rates Wednesday by 75 basis points for the fourth straight meeting while hinting at a potential slower pace in the future as the central bank continues to try to tame multi-decade highs in inflation.
Newsfeed: Fed rate hike is again 75 basis points with hint of potential slowing pace Read More »
The stock market has long been the go-to choice for people looking to invest their money. But that could be about to change as a younger generation enters the scene.