Posted on 11/15/2023 5:27:25 AM PST by Kaiser8408a
Biden says he wants 4 more years to finish the job. Like killing off the mortgage market completely, Joe?
Mortgage applications increased 2.8 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending November 10, 2023.
The Market Composite Index, a measure of mortgage loan application volume, increased 2.8 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 0.4 percent compared with the previous week. The seasonally adjusted Purchase Index increased 3 percent from one week earlier. The unadjusted Purchase Index decreased 0.3 percent compared with the previous week and was 12 percent lower than the same week one year ago.
The Refinance Index increased 2 percent from the previous week and was 7 percent higher than the same week one year ago.
Of course, mortgage rates have been declining slightly over the past few weeks, but remain up 172% under Biden.
At least the stock market is booming after the inflation report signalled that The Fed is likely done with rate hikes.
On the gold front, we are seeing evidence of contango.
Bitcoin? Down a wee bit after a staggering rise in price over the past year.
(Excerpt) Read more at confoundedinterest.net ...
Biden’s EPA is going to make the price of electricity soar.
Surefire electricity price inflation means mortgage rates need to be high enough to compensate.
Oil prices falling.
Gas prices below 3.
Inflation coming down.
Stock market rallying hard.
Long term interest rates falling rapidly, down 60 bp in a month.
Unemployment non-existent.
Low-end wage gains outpacing high end.
“Inflation coming down.”
Melt down Coming ?...... or melt up?
All those new dollars have to end up some where sooner or later.
As the value of the $ goes down the price of the market goes up. And consumer prices go up.
What your seeing in the market is inflation.
Powel already regrets his move.
Oil is down because we are pumping more and demand has fallen.
Jobs going from high end to low end.
Interest rates on the 10 yr .... ? How long can the fed keep up the farce ... watch the numbers after the auctions.. it’s not natural to be able to buy the auction, then sell for a profit within the hour. Unless there is a deal in place.
We are in very dangerous waters.
End of the world! YAAAAAAAAAAAAAAAAAAAAAaaaaaah!!!!
Contango Meaning, Why It Happens, and Backwardation
By ADAM HAYES
https://www.investopedia.com/terms/c/contango.asp
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