A hub for independent voices and hard truths
by confoundedinterest17 Biden’s press secretary Karine Jean-Pierre said that Biden was laser focused on reducing inflation. At least he isn’t laser focused on little girls … for the moment. But he still does seem laser focused on providing Ukraine with billions of dollars. After months of soaring in the face …
by confoundedinterest17 Is The Fed pushin’ too hard on rates to fight inflation? Or not hard enough?? Between the data and the overnight momentum in overseas markets, bonds are at their weakest levels in years. Mortgage-backed securities (the bonds that dictate mortgage rates) didn’t swoon quite as much as Treasuries, but as …
Fed chair Powell makes no mention of this brutal hit to real estate market. Higher for longer looks like it is the plan – damn the market and economic torpedoes that are coming. h/t j_stars
by confoundedinterest17 Mortgage applications increased last week, despite the 30-year fixed rate edging back up to 7.31 percent – its highest level in four weeks. Mortgage applications increased 5.4 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week …
The Canadian 10-year interest rate has reached a new 52-week high, driven by a recent surge in inflation. In response to this economic climate, the Royal Bank of Canada, the nation’s largest mortgage lender, has disclosed concerning data about its residential mortgages. As of July, a significant 43% of these …
by confoundedinterest17 Bidenomics, the economic gift to big donors and a boot up the backside of middle class and low wage workers, keeps on giving. Now its homebuilder sentiment falling to 45. U.S. homebuilders are feeling pessimistic about their business for the first time in seven months, thanks to stubbornly high …
by confoundedinterest17 Well, this isn’t good if you are a mortgage lender. Mortgage applications decreased 0.8 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending September 8, 2023. This week’s results included an adjustment for the Labor …
by confoundedinterest17 Danger Will Robinson! Danger! Median sales price of homes in the US sank by -7.4% in Q2 2023. This is particulary dangerous since it was the worst correction in home prices since two rather nasty recessions of 1970 and 2008 (The Great Recession and financial crisis). This correction occured …
by confoundedinterest17 Thanks to Bidenomics, code for massive Federal spending on green energy initiatives and payoffs fo large donors, we have agonizing inflation and consumers are borrowing more and more to cope with inflation. And with the increased use of debt comes …. drumroll … delinquenices! Let’s start with mortgage …
by confoundedinterest17 You know Bidenomics isn’t working at all when the best I can say about it is … the current housing bubble isn’t as bad as the house price bubble of 2006. We are truly in Biden’s ShamWow economy! Yes, if I look at real home prices less real median …
Property taxes, insurance, and general home upkeep are not included and for many are more than the mortgage itself. And those costs absolutely increase over time. h/t TonyLiberty
by confoundedinterest17 I wonder if Biden will use his writeboard to brag about the 30-year mortgage rate rising 157% under his economic Reign on Error? Aka, Bidenomics. Mortgage applications increased 2.3 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for …
by confoundedinterest17 We are livin’ la vida Bidenomics! The 30-year conforming mortgage rate is currently 7.23%, up 161% under Biden and Bidenomics (code for massive Federal spending on green initiatives that go to large Democrat donors and Ukrainian oligarchs). Meanwhile, M2 Money supply is up 9.4% under Biden. At the …
Due to the housing bubble, much higher interest rates, banking crisis and the softening economy. The middle class are being thrown to the curb on house ownership. You will own nothing. These are medians, people Sure, everyone knows a plumber foreman, nurse practitioner, construction manager, and tenured teacher making bank …
These are medians, people Sure, everyone knows a plumber foreman, nurse practitioner, construction manager, and tenured teacher making bank That is not the NORM — Amy Nixon (@texasrunnerDFW) August 27, 2023
by confoundedinterest17 Middle class Joe my ^%&! Joe Biden will always be remembered for lying about never raising taxes on households making under $400,000. Inflation is a permanent tax, mostly on those making under $400,000 per year. And household essentials are up substantially under Biden: gasoline prices are up 72%, rent …
Mortgage demand just hit its lowest level since December 1996. Existing home sales are now down 16.6% this year, their lowest since 2010. As rates skyrocket, mortgage providers are beginning to feel the pain. Follow us @KobeissiLetter for real time analysis as this develops. pic.twitter.com/DepabEqIDV — The Kobeissi Letter (@KobeissiLetter) …
The monthly mortgage payment based on a median existing home is now at a record $2,322/month. This is double the $1,200 peak seen in 2008. Keep in mind, $2,322/month does not include taxes, insurance or any other costs associated with buying a home. If you add in taxes and insurance, …
by confoundedinterest17 The Talking Heads said it best. Bidenomics is burning down the housing market. Bidenomincs (or trying to recover from Yellenomics) is responisble for interest rates rising to flight inflation and the collapse of mortgage lending. And she was … Janet Yellen. Mortgage demand (applications) decreased 4.2 percent from one week …
by confoundedinterest17 Maui Joe Biden received a lot of help from his friends at The Federal Reserve! Thanks to the crippling effects of Bidenomics (Fed easing then tightening to combat inflation caused by insane green spending and a war in Ukraine), US mortgage rates (conforming 30-year) has increased 159%. On …
For the first time in history, the median monthly mortgage payment is nearing $3000/month. Mortgage rates are now at their highest since 2002. Inflation has made many basic necessities into unaffordable things. Follow us @KobeissiLetter for real time analysis as this develops. — The Kobeissi Letter (@KobeissiLetter) August 20, 2023 …
by confoundedinterest17 Hellzapoppin under Bidenomics! And it isn’t a musical, but a tragedy. Between The Federal Reserve’s outrageous overreaction to Covid (printing like there was no tomorrow), and Biden’s massive spending spree (lots of moldy (green) spending, we have see horrid inflation. And The Fed trying (sort of) to combat inflation, …
Reminder that some people are paying mortgage payments for fancy cars. These are real, active car leases in 5 states: pic.twitter.com/kZwSl0LIbW — Car Dealership Guy (@GuyDealership) August 17, 2023 No way 😂 pic.twitter.com/qhAIkkG2Xd — Car Dealership Guy (@GuyDealership) August 17, 2023
by confoundedinterest17 “Ice Cream Joe” Biden is at Lake Tahoe for a week, probably to avoid being asked questions about his tin-ear respoonse to the tragic Maui fires that have killed 106 people so far. Instead, Joe is inappropriately chuckling (showing he doesn’t care!) and taking photo ops of him …
by confoundedinterest17 The US mortgage market is livin’ la vida Biden! And for the US mortgage market, la vida Biden in ugly. Mortgage applications decreased 3.1 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending August 4, 2023. The …
People complaining about rent too expensive, Solution: make a mortgage just as expensive Problem solved or something h/t dc4_checkdown
Our mortgage department has an impromptu "town hall" next week. Pray for us. — Ser Chris the Short (@ImIndianPlzHelp) August 4, 2023
by confoundedinterest17 Inflation under Biden has been very painful for the US middle class and low wage workers. That inflation has resulted to surging mortgage rates thanks to The Fed’s counterattack. The result? Mortgage rates are up 134% under Bidenomics, while mortgage purchase demand is down -45% since Biden was …
ORLANDO, Fla. – A new cruise experience could be more affordable than the rent or mortgage you’re paying on land. There’s a new option to live on a cruise ship while traveling the world. “We’re excited!!” Barbara Violetta said. Violetta is a retiree from The Villages and she is crazy for cruises. …
