rates

US Mortgage Purchase Demand Drops -19% From Previous Week As Mortgage Rates Top 7% (Down -53% Under Bidenomics, Rates Up 138%) Strongly Recommend “Sound Of Freedom”

by confoundedinterest17 As Bidenomics (why Biden would brag about massive inflation in energy, food and shelter is beyond me), lurches forward, we have another shred of lousy economic news: US mortgage purchase demand fell -19% from the previous week and is how down -53% under Bidenomics). Mortgage applications increased 0.9 percent from one week earlier, …

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US Treasury 10Y-2Y Yield Curve Stumbles To -91.166 BPS As 30Y Mortgage Rates Climb To 7.37% (30Y Mortgage Rate UP 156% Under Bidenomics) Since November 3, 2022, US Dollar Index DOWN -9.68%, Gold UP 18.55%, Bitcoin UP 51.11%!

by confoundedinterest17 I am anxiously waiting for the US inflation report tomorrow, so I am just looking at the US Treasury yield curve, mortgage rates and cryptos today. The US Treasury 10Y-2Y yield curve stumbled (just like Biden and Bidenomics) to -91.166 basis points as the turnaround in M2 Money growth has stalled. Bankrate’s 30Y …

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The Alarming Decline in Birth Rates Across the Globe

by Glenn Reynolds IT’S A WORLDWIDE PROBLEM: Why China’s Young People Are Not Getting Married. Grace Zhang, a tech worker who had long been ambivalent about marriage, spent two months barricaded in the government lockdown of Shanghai last year. Robbed of the ability to move freely, she spiraled over the loss of control. As she …

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The top 4 banks face bond asset losses totaling $205 billion, with the overall banking sector suffering losses totaling $2 trillion; the Fed intends to hike rates, compounding losses.

It is indeed a matter of great concern that the top 4 banks are currently facing monumental losses, amounting to a staggering $205 billion, on their bond assets. Moreover, the entire banking system has witnessed an alarming figure of approximately $2 trillion in bond asset losses. This unfortunate situation emphasizes the vulnerability of banks and …

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Biden’s Build Back Better Now Build Back Bankrupt! Commercial Chapter 11 Filings Increased 68 Percent in the First Half of 2023 (Rising Rates Thanks To Bidenflation)

by confoundedinterest17 Biden’s massive spending spree (aka, Build Back Better) has a new name: Build Back Bankrupt! According to Epiq, Commercial Chapter 11 Filings Increased 68 Percent in the First Half of 2023. NEW YORK – July 03, 2023 — The 2,973 total commercial Chapter 11 bankruptcies filed during the first six months of 2023 represented a …

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Subprime lenders cutting off dealers as auto loan delinquency rates rise

Automotive Credit Corp, a subprime lender, has begun cutting off select car dealers due to “ongoing concerns regarding adverse market conditions” This is exhausting — Car Dealership Guy (@GuyDealership) July 6, 2023 Serious Auto Loan Delinquency among people under the age of 30 is approaching Global Financial Crisis levels pic.twitter.com/gUIWILJ1sQ — Barchart (@Barchart) May 31, …

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US Mortgage Purchase Demand Down -42.3% Under Bidenomics, Mortgage Refi Demand Down -91%, Mortgage Rates UP 131% (As Liquidity Dries Up)

by confoundedinterest17 Joe Biden, or “Blow Biden” after the cocaine was discovered in the White House the other day, owns the abysmal mortgage and housing market thanks to The Fed fighting inflation caused by Bidenomics (massive Federal spending and massive Fed stimulus). Mortgage applications decreased 4.4 percent from one week earlier, according to data from …

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Rebound in Rates Puts Pressure on Banks, Holdings of bonds and loans likely fell in value for most lenders in the second quarter

From the WSJ: Unrealized losses on bonds and loans held by U.S. banks are expected to have grown in the second quarter, potentially reanimating an issue that made investors nervous earlier this year. Meanwhile, pressure on profits is rising. A resilient economy and a steadier banking system caused market values for debt to generally fall …

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They printed trillions of Euros and had negative interest rates, now claiming they didn’t cause inflation… Legacy corporate media is trash; protecting master

“Inflation has… pretty much come from nowhere.” -Christine Lagarde European Central Bank President "Inflation has… pretty much come from nowhere." -Christine LagardeEuropean Central Bank President They printed trillions of Euros and had negative interest rates for years. Now they pretend they didn’t cause any of it. 🔊 pic.twitter.com/awiyyZDI3k — Wall Street Mav (@WallStreetMav) July 4, …

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Addicted To Gov! Mortgage Rates UP 150% Under Biden, 10Y-2Y Most Inverted Since 1981 (Unfunded Liabilities 5x National Debt) Gold, Silver UP

by confoundedinterest17 Its the 4th of July, American Independence Day from England, but under Biden and The Federal Reserve, Americans are DEPENDENT on debt and Federal spending. In other words, Americans are addicted to gov. First, Bankrate’s 30-year mortgage rate index is up 150% under Biden. You can see the rapid rise in mortgage rates started …

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Consumers down to $533bn excess savings and still spending like rates are zero… ‘Don’t see a Recession? It’s Last Call at the bar’

“The smart people have already paid the tab and gone home The remainder will wake up tomorrow with regrets” Don’t see a Recession? It’s Last Call at the bar The smart people have already paid the tab and gone home The remainder will wake up tomorrow with regrets https://t.co/jn65YPXxhk — Amy Nixon (@texasrunnerDFW) July 2, …

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Personal savings drop, lowest since 2013 amid high credit card debt and interest rates.

“Personal savings have plummeted following C19 It’s now at the lowest levels since 2013 WIth credit card debt and interest rates at their highest levels, consumers now face major headwinds” Personal savings have plummeted following C19 It’s now at the lowest levels since 2013 WIth credit card debt and interest rates at their highest levels, …

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Bank of America faces $100 billion in bond losses due to rising interest rates, the same reason that $SIVB and $FRC collapsed.

We are digging into all of the data behind this new report. The unrealized losses seem to go well beyond just bond markets. Let us know if you'd like to see a Twitter thread explaining this situation in full detail. Follow us @KobeissiLetter for more as this develops. — The Kobeissi Letter (@KobeissiLetter) June 30, …

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What housing crash? Housing prices going up. Interest rates going up. Cost of living going up.

“The median California home is $100k higher than they were 4 months ago.” Source: https://t.co/05dmw17NEg — Genevieve Roch-Decter, CFA (@GRDecter) June 27, 2023 May new home sales surged +12.2% m/m vs. -1.2% est. & +3.5% prior (revised down from +4.1%)… median new home price -7.6% year/year to $416,300; average selling price at $487,300 pic.twitter.com/2NNF4UWeN5 — …

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Banks tighten lending standards amid rising rates, potential economic slowdown. Global yield curves invert, highest 2-year rates since 1992.

by BoatSurfer600 As rates rise and the economy slows, banks tighten their credit lending standards out of fear of higher loan losses. If the credit to the economy dries up more than anticipated, then the slowdown might accelerate. A credit-starved economy is no bueno Source: Sagar Singh Yield curves around the world are inverting the …

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Inflation Alert! Bank of England (50 basis points), Norway Central Bank (50 basis points), Swiss National Bank (25 basis points) all raise interest rates to combat inflation. Remember, JPow told Congress yesterday rate hikes needed here but the Fed is not acting while other central banks are.

by Dismal-Jellyfish Norway: https://www.norges-bank.no/en/topics/Monetary-policy/Monetary-policy-meetings/2023/june-2023/ Policy rate raised to 3.75 percent Norges Bank’s Monetary Policy and Financial Stability Committee decided to raise the policy rate by 0.50 percentage point to 3.75 percent. The Committee’s current assessment of the outlook and balance of risks implies that the policy rate will most likely be raised further in August. Inflation …

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Biden’s Mortgage Market! Mortgage Demand Down -35% Under Biden, Refi Demand Down -90%, Mortgage Rates Up 128% (Renter’s Misery Index Now 11.75% Versus 6.78 Pre-Covid Under Trump)

by confoundedinterest17 The good news? Mortgage purchase demand fell only -0.05% from last week. The bad news? Mortgage purchase demand is down -35% since Resident Biden was sworn in. And mortgage refinancing demand is down a whopping -90%. Reason? Mortgage rates are up 128% under Clueless Joe. Mortgage applications increased 0.5 percent from one week …

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UK mortgage rates increase, inflation impact ignored in media.

The media are full of news about UK mortgage rates going higher. But when we get to the cost of living and inflation they ignore its impact over the past year.CPI 0%CPIH 0%RPI 55.1% Give the RPI the credit for telling the real story.https://t.co/7Dm3FbbX7I — Shaun Richards (@notayesmansecon) June 21, 2023 That is an absolutely …

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UK “homeowners” getting squeezed by inflation & rising interest rates. How are you preparing for this recession?

Three million middle class homeowners are at risk of having their savings wiped out by the recent surge in mortgage costs, a leading think-tank has warned. Analysis from the Institute for Fiscal Studies (IFS) suggests 2.9 middle middle income mortgage holders would have to raid their savings or ask for help to meet an unexpected …

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Fed Officials Say Rates May Need to Go Higher to Tame Inflation (Fats Waller And Elen Barkin Want To Raise Rates)

by confoundedinterest17 Governor Waller cites slow progress on core inflation Richmond Fed chief Barkin says he’s comfortable doing more Two Federal Reserve officials said the central bank may have to raise interest rates further to tame price pressures that in some sectors aren’t showing much sign of easing. Fed Governor Christopher Waller said Friday headline inflation has been “cut …

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They are raising interest rates so we hoard cash, meanwhile they inflate the monetary supply to buy assets. We’re going to be left holding the bag.

by TheReignOfChaos Raise interest rates so the ‘sensible’ investment decision is to hold cash; why would they invest in assets and risk a market crash when cash is returning 5, 6, 7%? Meanwhile, buy assets as the currency inflates. Finally destroy the currency, leaving everyone holding money destitute. Force everyone to use a CBDC as …

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US Mortgage Rates UP 144% Under Biden’s Reign Of Error (Fed Likely To Pause Today But Raise Rates At July Meeting)

by confoundedinterest17 Biden’s “reign of error” is horrific. The inflation caused by Biden’s policies, The Federal Reserve and insane Federal spending has caused mortgage rates to soar 144% since Biden took office. While The Fed is likely to pause today, but Fed Funds are pricing in a July rate hike. Banks are not going to …

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Tax rates increase significantly between $100,000 and $250,000 in US cities. A $250,000 salary has only $83,000 purchasing power in New York and San Francisco.

US cities where the tax rate jumps most between $100,000 and $250,000, per Bloomberg: pic.twitter.com/gQ5DojPsLS — unusual_whales (@unusual_whales) June 8, 2023 In New York and San Francisco, a $250,000 salary has the purchasing power of only about $83,000 after accounting for taxes and adjusting the remaining amount for the local cost of living, per Bloomberg. …

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Banks are cutting losses on real estate loans due to higher interest rates, leading to a potential financial crisis. Vacancy rates on office space across the U.S has hit a record +16%.

Some US banks are preparing to sell off property loans at a discount even when borrowers are up to date on repayments, a sign of their determination to reduce exposure to the teetering commercial real estate market, per FT. — unusual_whales (@unusual_whales) June 6, 2023 Good Morning Everyone! Delinquencies spiked in May on mortgage bonds …

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