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Newsfeed: 30-Year US Mortgage Rises Above 7% For The First Time Since 2000; Fastest Surge In History

Newsfeed: 30-Year US Mortgage Rises Above 7% For The First Time Since 2000; Fastest Surge In History

Less than two weeks ago we cited Freddie Mac according to which the average 30 year US mortgage just rose above 6% for the first time since 2008, with real-estate brokerage Redfin commemorating the move by saying that “This Is The Sharpest Turn In The Housing Market Since The 2008 Crash.” Well, just a few days later, Jeff Gundlach was so kind to point out this evening…

Newsfeed: 30-Year US Mortgage Rises Above 7% For The First Time Since 2000; Fastest Surge In History Read More »

Newsfeed: The Housing Bubble Has Officially Burst : Case-Shiller Records First Drop In Home Prices Since 2012

Newsfeed: The Housing Bubble Has Officially Burst : Case-Shiller Records First Drop In Home Prices Since 2012

Analysts expected Case-Shiller Home Price growth to continue its modest deceleration in August (the latest available data in this heavily lagged and smoothed data set), but the result was a doozy: the 20-City Composite index tumbled 0.44% MoM, far below the 0.20% expected increase, and a sharp decline from the downward revised 0.19% increase in July; more importantly, this was the first sequential drop in home prices tracked by Case-Shiller since March 2012, or ten and a half years.

Newsfeed: The Housing Bubble Has Officially Burst : Case-Shiller Records First Drop In Home Prices Since 2012 Read More »

Newsfeed: 10Y Yield Soars To 12 Year High After Dismal 2Y Auction

Newsfeed: 10Y Yield Soars To 12 Year High After Dismal 2Y Auction

One minute after 1pm, the Treasury announced results from today’s sale of $43 billion in 2Y paper, which were nothing short of disastrous. The high yield – already the highest in 15 years – was almost a full percent, or 98bps, above August’s 3.307%, and stopping at a high yield of 4.290%, the auction tailed the When Issued 4.274% by 1.6bps, the biggest tail going back to feb 2020 when the bond market was similarly paralyzed, but back then it was due to covid.

Newsfeed: 10Y Yield Soars To 12 Year High After Dismal 2Y Auction Read More »

Newsfeed: Bonds are in the midst of their worst crash since 1949, and the fallout could unravel some of the market’s most crowded trades, Bank of America says

Newsfeed: Bonds are in the midst of their worst crash since 1949, and the fallout could unravel some of the market’s most crowded trades, Bank of America says

The unraveling of the bond market will continue to batter stocks over the coming months, according to a Friday note from Bank of America. Bonds are experiencing their worst decline since 1949 as interest rates soar amid a global central bank campaign to fight inflation. The US Aggregate Bond ETF is down 15% year-to-date, while global bonds are down even more.

Newsfeed: Bonds are in the midst of their worst crash since 1949, and the fallout could unravel some of the market’s most crowded trades, Bank of America says Read More »

Newsfeed: US housing market bloodbath: Prices will collapse by up to 20% because sector is already in recession – sparked by Bidenflation – and it will soon spread to rest of the economy, expert warns

Newsfeed: US housing market bloodbath: Prices will collapse by up to 20% because sector is already in recession – sparked by Bidenflation – and it will soon spread to rest of the economy, expert warns

Record-high housing prices in the US could collapse by up to 20 percent over the next year if a recession sparked by Joe Biden’s inflation takes hold, a top Wall Street economist has warned.

Newsfeed: US housing market bloodbath: Prices will collapse by up to 20% because sector is already in recession – sparked by Bidenflation – and it will soon spread to rest of the economy, expert warns Read More »

Newsfeed: Jerome Powell just warned that the US housing market needs a ‘difficult correction’ so that folks can afford homes again ⁠— but here’s why it’ll look nothing like 2008

Newsfeed: Jerome Powell just warned that the US housing market needs a ‘difficult correction’ so that folks can afford homes again ⁠— but here’s why it’ll look nothing like 2008

Real estate investors have largely done well for the past few years. But with higher interest rates, things could be about to change. The U.S. Federal Reserve raised its benchmark interest rates by 0.75 basis points on Wednesday, marking the third such hike in a row.

Newsfeed: Jerome Powell just warned that the US housing market needs a ‘difficult correction’ so that folks can afford homes again ⁠— but here’s why it’ll look nothing like 2008 Read More »

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