Sales of previously owned homes declined 2.4% in March compared with February, according to a monthly report from the National Association of Realtors.
The risk of a structural rise in yields has heightened as bondholders begin to demand more compensation for inflation that is increasingly ingrained.
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.
The Fed’s next crisis is already brewing. Unlike 2008, where “subprime mortgages” froze counter-party trading in the credit markets as Lehman Brothers failed, in 2022, it might just be the $27 Trillion Treasury market.
While the market’s volatility this week has been focused on UK pension funds and budgets and systemic risk, this morning’s US CPI print will likely determine the next leg from here with expectations for an acceleration in core inflation and small slowdown in headline growth of consumer prices.
Treasury yields climbed on Monday as traders anticipated the Federal Reserve’s next moves in the face of persistently high inflation.
Bank of America this week announced that it will be launching a mortgage option for first-time home buyers offering no down payments, no closing costs and no minimum credit score.
Just one day after the Federal Reserve raised its benchmark rate, mortgage rates took a sharp turn lower.