A hub for independent voices and hard truths
If you were holding out for lower interest rates on credits cards or mortgages, expect to only see modest relief for the remainder of the year and much of 2025. That’s because the Federal Reserve is keeping its benchmark interest rate steady to discourage borrowing, which it will do until …
Student loan delinquency will not be reported until Q3 — MacroEdge (@MacroEdgeRes) May 14, 2024 Startling data from the NY Fed’s quarterly household debt report for Q1 reveals a concerning uptick in mortgage delinquencies, signaling potential economic distress. The total household debt skyrockets to a staggering $17.69 trillion, marking a …
Brace yourselves for the economic storm! The heartland of America is trembling as the median mortgage payment skyrockets to an unprecedented $2,894 per month, shattering all previous records. But the nightmare doesn’t end there. In the wake of Bidenomics, renters and prospective homeowners are being mercilessly squeezed, with only those …
Canadian banks are anticipating a jaw-dropping 60% hike in monthly mortgage payments for those with variable rates is nothing short of a financial catastrophe waiting to happen. With housing costs already soaring, this sudden and substantial increase in mortgage payments is a recipe for disaster, putting countless Canadian families at …
The Bank of Canada is warning Canadians (and banks) to prepare for steep mortgage payment increases as the renewal wave approaches in 2025 and 2026. However, the Bank is also noting, that for right now at least, renters are seeing the most sign of distress.
Americans think Mortgage Rates will Hit 10%. They’re currently at 7.75%. In 2020 rates were 3%. Let’s look at payments for various combinations at various prices: ________________________________ __3% Rate__8% Rate__10% Rate 2020 Median House Price $320,000*_____$1,079____$1,878___$2,247 2024 Median House Price $420,000*_____$1,417____$2,465___$2,949 * Assumes 20% …
Mortgage demand on the US Housing Market continues to plummet. With data from the Mortgage Bankers Association reporting that mortgage applications to buy a house are down 15% YoY. And are now resting at their lowest level since 1995.
Amid the housing market turbulence, forbearance programs are unraveling homeownership dreams as borrowers find themselves trapped in a vicious cycle of debt. With equity eroded and surprise liens looming, the reality of deferred payments is dawning harshly on many. 2) What this gentlemen describes is the status quo- "I don't …
by confoundedinterest17 The Fed will likely pause rate cuts/increases when The Fed reveals their plans today. Breaking: Federal Reserve officials are likely to hold interest rates steady at 5.25-5.5%—a 20-year peak—for a 6th consecutive meeting. With inflation still high, rate cuts seem off the table for now. Rate decision at 2pm Washington …
by confoundedinterest17 Housing in the US is simply unaffordable, particularly after HUD levied new regulation rising the cost of new housing up to $31,000. Wait for this to kick into the data for mortgage demand! Mortgage applications decreased 2.3 percent from one week earlier, according to data from the Mortgage Bankers …
The cost of a mortgage payment has risen 57% over the past two years, whereas household income has only grown 9%. This level of affordability is typically not sustainable: https://t.co/SwtLfrB2Mc — Reef Insights (@ReefInsights) April 24, 2024
As ominous signs of economic distress emerge, the US teeters on the brink of a financial precipice. Subprime auto loan delinquencies soar to 2008 levels, signaling an impending crisis fueled by a doubling of delinquency rates in just three years. Simultaneously, the housing market grapples with a catastrophic collapse, with …
by confoundedinterest17 Fed Chairs Ben Bernanke and Janet Yellen started the home price fire that Powell is trying to extinguish but can’t. Throw in a 10% burst in illegal immigration and Biden/Mayorkas just added fuel to an already out-of-control fire. Housing is becoming an exclusively upper-class privilege in a growing number …
by etsharks0 The 30-year fixed-rate mortgage surpassed 7 percent for the first time this year, jumping from 6.88 percent to 7.10 percent this week. As rates trend higher, potential homebuyers are deciding whether to buy before rates rise even more or hold off in hopes of decreases later in the …
by confoundedinterest17 President Obama selected Slow Joe Biden as his Vice President because 1) he was white and 2) an alleged foreign policy wizard in The Senate. Between Afghanistan, Ukraine, Israel, Taiwan and every other foreign policy disaster under his leadership, I am beginning to doubt Biden’s foreign policy acumen. …
Gen Z will never afford homes. With 30-year fixed mortgage rates hitting a staggering 7.5%, and home prices soaring beyond the 2006 housing bubble peak, the American Dream is dead for many. Even in the most affordable states, households need over $100,000 annually, while in Hawaii, California, and Massachusetts, it’s …
58% of people surveyed by Fannie Mae think it would be difficult to get a mortgage these days, 4% higher than in February. It is near the record of 60% share of respondents in October. US Housing affordability is near the historic low. pic.twitter.com/V7l3822s3m — Global Markets Investor (@GlobalMktObserv) April …
by confoundedinterest17 Bidenomics is really about insane money printing after Covid and the installation of Biden as President. Biden and The Federal Reserve are both pushin’ too hard. Biden to fundamentally change the US and The Fed trying to cope with the inflation reaction. With Covid and then Biden’s selection …
via wallstreetonparade Last August, the Journal of Finance published a study by two finance professors that should have made bold headlines in every major business newspaper in America. It didn’t – suggesting that Americans will eventually learn about Wall Street’s chicanery in commercial real estate the same way they learned about Wall Street’s …
Canada is in a RECESSION! "Mortgage delinquency rates ROSE 52.3% in the last quarter of 2023" Ontario mortgage delinquency rates are at 135% !?! "Delinquency rates for non-mortgages including credit cards rose almost 30%" This is absolutely nuts… 🚨🚨🚨 pic.twitter.com/1kBguAkcWD — Wall Street Mav (@WallStreetMav) March 27, 2024 More Canadians …
by confoundedinterest17 We are experiencing a situation known as House Latitudes. Where mortgage rates are so high that the mortgage market is struggling to recover from Bidenomics. Mortgage applications increased 7.1 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week …
Sharp increase in mortgage borrowers filing for bankruptcy called ‘worrying trend’ More Canadians are beginning to crack under the pressure of increased mortgage payments, new data on consumer credit showed today. Article content Mortgage delinquency rates were up more than 50 per cent at the end of last year from …
“If you put down $100,000 as a 20% down payment and then borrow $400,000 with a 30-year fixed-rate mortgage with an interest rate of 7.09%, your monthly payment on the loan would be $2,685. That does not include your monthly property tax and homeowners insurance payments, which will vary based …
by confoundedinterest17 Yikes! Bidenomics is a disaster! MBA mortgage purchase applications are down 54% from Pandemic Peak. I was going to play “The Wreck of the Edmund Fitzgerald” by Gordon Lightfoot and rename it “The Wreck of The US Economy.” Mortgage demand fell to a new 30-year low in January 2024, …
by confoundedinterest17 Treasury Secretary Janet Yellen just admitted what the rest of Americans already knew: high prices are here to stay. Example? Food prices (CPI) are up over 20% under Inflation Joe while gasoline prices are up 38% under Clueless Joe. On the housing front, the Case-Shiller National Home Price …
Navigate the turbulent waters of the housing market crisis. With skyrocketing mortgage rates, dwindling affordability, and a severe shortage of homes, the 2024 real estate landscape is filled with economic tension. Explore the complexities, from the impact of rising interest rates to the struggle for housing supply. Uncover predictions, potential …
by confoundedinterest17 We are closing out the first week of the New Year and 30-year conforming mortgage rates are up slighlty. Mortgage rate GROWTH is now at 8% year-over-year (YoY). While M2 Money growth has died and is down -3% YoY. Bank credit growth has been negative since July 2023 …
by confoundedinterest17 You better think twice! Mortgage demand has fallen to its lowest level since 1995. Mortgage applications decreased 1.5 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending December 15, 2023. The Market Composite Index, a measure …
by confoundedinterest17 Like the spaghetti western “The Good, The Bad And The Ugly,” Bidenomics has had similar effects on financing. Some good, some bad and a lot of uglies. The good! For investors like pension funds the own US Treasuries, inflation has led The Federal Reserve to raise interest rates. This is good …
by confoundedinterest17 Here comes Biden Claus, right down Constitution Avenue, bringing you a Christmas present of … 165% mortgage interest rates!! Mortgage applications increased 7.4 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending December 8, 2023. …