A group of some of the world’s most powerful oil producers on Wednesday agreed to impose deep output cuts, seeking to spur a recovery in crude prices despite calls from the U.S. to pump more to help the global economy.
Saudi Arabia has agreed to cut its production for November by 526,000 bpd, from its current quota of 11.004 million bpd, according to data provided by OPEC following its Wednesday meeting to set new production targets.
Newsfeed: Saudi Arabia, Russia To Cut 1.05 Million Bpd In November Read More »
Mortgage applications on Wednesday became the latest sign showing how hard rates are hitting housing. And it could get worse.
Newsfeed: Housing ‘brought to its knees by the Federal Reserve,’ expert says Read More »
The pace of mortgage applications has fallen to a multi-decade low amid high housing interest rates, according to the latest data from the Mortgage Bankers Association (MBA).
Newsfeed: Mortgage Application Pace Plunges To 25-Year Low As Housing Recession Deepens Read More »
Ahead of Friday’s big number, and following last month’s dismal print (under its new model regime) which dramatically under-predicted the payrolls print in August, ADP was expected to show a modest uptick in September of 200k jobs. The actual print came in at +208k jobs but most notably, the +132k print from August was revised drastically higher to +185k…
Central banks globally added to their net gold holdings for the fifth consecutive month in August, according to the latest data released by the World Gold Council.
Newsfeed: Central Banks Are Stocking Up On Gold Read More »
The housing market is finally getting unglued: less than a week after Case Shiller (which reports home prices with a substantiakl laga) reported the first negative monthly change in home prices…
Newsfeed: Home Prices Crash At Fastest Pace Since Lehman Bankruptcy Read More »
Home prices in the US have taken a turn and are now posting the biggest monthly declines since 2009. Median home prices fell 0.98% in August from a month earlier, following a 1.05% drop in July, mortgage-data provider Black Knight Inc. said in a report Monday. The two periods mark the largest monthly declines since January 2009.
Newsfeed: US Home Prices Now Posting Biggest Monthly Drops Since 2009 Read More »
Since the start of the year, mortgage rates have been trending upwards — and according to many experts, this trend will likely continue through October.
Analysis of Google Trends data reveals that searches for ‘real estate market crash’ exploded 284% in the United States as of September 2022 – the highest level in Google Trends history.
Newsfeed: Searches For “Real Estate Market Crash” Highest In Internet History Read More »