I’ll keep this short and sweet … After two decades on the radio and meeting thousands of our listeners at our live events, I feel our audience is like my extended family.
A Very Personal Message from Russell Gray Read More »
Mortgage rates jumped more than a quarter point this week and remain at the highest level in 14 years, offering no relief to sidelined homebuyers.
Newsfeed: Mortgage rates jump again, remain above 6% Read More »
Investors globally are wondering – after CPI sent the ‘peak inflation’ narrative to the bottom of the ocean and Powell’s Jackson Hole speech (and this FOMC statement and press conference) crushed the ‘Fed Pivot’ narrative – what other potential indicators/signals (aside from a multi-month slowdown in inflation of course) could prompt Powell and his pals to back off their uber-hawkishness?
Newsfeed: Here Are Some Things The Fed Will Break If It ‘Contains Inflation’ Read More »
Today we get our first glimpse of the carnage in the housing market from August. With mortgage rates having soared and homebuilder sentiment tumbling (and permits plunging), it should be no surprise that existing home sales were expected to fall for the 7th straight month (-2.3% MoM vs -5.9% MoM in July).
Newsfeed: US Existing Home Sales Sink For 7th Straight Month Read More »
Tl;dr: For the 3rd meeting in a row, The Fed hiked 75bps as expected but signaled a much more hawkish than expected future trajectory of rates (higher for longer).
The average interest rate on the most popular U.S. home loan climbed to its highest level since October 2008, Mortgage Bankers Association (MBA) data showed on Wednesday.
Newsfeed: U.S. mortgage interest rates reach 6.25%, highest level since October 2008 Read More »
Federal Reserve Chair Jerome Powell warned that the US housing market is likely to suffer a reversal in the wake of policy makers’ interest-rate hikes.
Newsfeed: Powell Warns of Correction in Once ‘Red-Hot’ Housing Market Read More »
Following yesterday’s 9th straight monthly decline in US homebuilder sentiment – the longest losing streak since 2014 – this morning’s housing starts and permits data will be watched like a hawk (the former expected to see a small bounce MoM and the latter – more forward-looking – a big tumble MoM).
Newsfeed: US Building Permits Crash In August, Multi-Family Starts Hit Record High Read More »
High mortgage rates, persistent inflation and economic woes are making expensive parts of the country less attractive and relatively affordable places more popular. Migration out of Los Angeles, New York, Washington, D.C. and Boston has picked up from last year.
More builders are lowering prices for homes as their confidence in the market continues to tumble. Homebuilder sentiment in September fell 3 points to 46 in the National Association of Home Builders/Wells Fargo Housing Market Index. Anything below 50 is considered negative.
Newsfeed: More homebuilders lower prices as sentiment falls for ninth straight month Read More »