If it was the Biden admin’s intention to crush the housing market (with the help of the Fed’s rate hikes) and spark a powerful recession just so it can lower inflation, well “mission accomplished.”
Newsfeed: Housing Market Peaks: Home Prices Finally Drop From All-Time Highs Read More »
U.S. consumer prices accelerated 9.1% last month, the fastest annual pace since November 1981 and the hottest print of the current inflation cycle.
U.S. consumer prices accelerated 9.1% last month, the fastest annual pace since November 1981 and the hottest print of the current inflation cycle.
Newsfeed: Inflation surges 9.1% in June, most since November 1981 Read More »
Second quarter profits at big U.S. banks are expected to fall sharply from a year earlier on increased loan loss reserves, as the pandemic recovery gives way to a possible recession.
Newsfeed: Big U.S. banks’ second quarter profits to tumble on higher bad loan reserves Read More »
Through the first 24 months of the pandemic, U.S. home prices soared 38.5%. In some markets, like Phoenix and Dallas, home prices grew by more than 50%.
The average for a 30-year loan fell to 5.3%, the lowest in a month and down from 5.7% last week, Freddie Mac said in a statement Thursday.
Newsfeed: US Mortgage Rates Plunge to 5.3% in Biggest Drop Since 2008 Read More »
After a string of steady increases, mortgage rates fell this past week — a mixed blessing for the fragile U.S. economy. The lower rate on a 30-year fixed mortgage is a relief for home shoppers who have been watching rates climb, but it’s also a sign that a recession could very well be around the corner as the market slows.
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 »
While it is traditionally viewed as a B-grade economic indicator, the April consumer credit report from the Federal Reserve was another shocker especially after last month’s stunning surge in credit card debt which saw the biggest increase in revolving credit on record which is why we said that today’s G.19 print straight from the Fed would be just as important as Friday’s CPI print…
America’s red hot housing market is cooling down fast sparking fears of a housing bust and crippling recession as nearly half of home sale prices are slashed in some areas.