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Buyers of a Median-Price Home Are Looking at a Monthly Mortgage Payment Almost 50% Higher: MWApr 29, 2022 - 05:40:37 PDT
After rising at the fastest pace in 40 years, mortgage rates level off — but buyers should brace for persistently higher rates.
Buyers of a Median-Price Home Are Looking at a Monthly Mortgage Payment Almost 50% Higher: MWApr 29, 2022 - 05:40:37 PDT
After rising at the fastest pace in 40 years, mortgage rates level off — but buyers should brace for persistently higher rates.
Bond manager Mark Kiesel sold his California home in 2006, when he presciently predicted the housing bubble would pop. He bought again in 2012, after U.S. prices fell more than 30% and found a floor.
Federal Reserve Chair Jerome Powell is likely to slow the pace of interest-rate increases after front-loading policy with half-point hikes next week and in June, economists surveyed by Bloomberg say.
More than six years after China’s shock 2015 devaluation roiled global markets and spurred an estimated $1 trillion in capital flight, the yuan is weakening at a similar pace. Onshore it’s lost nearly 4% in eight days, while the offshore rate is heading for its worst month relative to the greenback in history...
Futures Slide As Amazon, Apple Slump; Nasdaq Set For Worst Month Since Nov 2008Apr 29, 2022 - 05:30:18 PDT
As a result, S&P500 futures dropped 0.9%, while Nasdaq futures retreated 1.1% on the last trading day of April, adding to their 9.3% decline so far this month and on pace for the worst monthly performance since November 2008 as fears of rising rates hurt bubbly growth shares and fuel risks for future profits.
For the second month in a row, the Fed held true to its word and kept the balance sheet relatively flat. In aggregate, the balance sheet expanded by only $2B, though it did reach an all-time high mid-month. The drop to close out the month came as a result of $15B in mortgage-backed securities rolling off in the latest week.
"The Economy Is Strong!" and Other Myths and Rumors: SchiffGold Friday Gold Wrap April 29April 29, 2022
Jerome Powell and other policymakers at the Fed keep telling us they can raise interest rates and slay the inflation dragon because the economy is strong. But these central bankers have a long history of being wrong. And as host Mike Maharrey explains in this episode of the Friday Gold Wrap podcast, the recent GDP numbers undercut this latest Fed narrative. He also talks about a startling confession from the IMF director and Q1 gold demand.
Apr 28, 2022 - 21:31:45 PDT
When had Bill Fleckenstein on this program last year, he predicted that a financial reckoning was due, but wouldn’t arrive until we started seeing “trouble in the bond market”.
Well bonds have certainly started seeing wild action recently.
The gold-to-silver ratio used to define the value of currencies and still remains an important metric for metals investors today.
In a quarter that saw the US dollar gold price rise by 8%, gold demand (excluding OTC) increased 34% y-o-y to 1,234t – the highest since Q4 2018 and 19% above the five-year average of 1,039t.
With the headlines blaring, "Extraordinary" - US Consumer Prices Soar At Fastest In Over 40 Years", citizens struggle to pay their bills and protect their wealth.
Some blame high prices, wages, the Ukraine war, or the weak recovery. The fact is currency destruction is at the heart of generalized price rises everywhere. Original Article: "Commodities Do Not Cause Inflation.
Apr 28, 2022 - 12:08:11 PDT
The food industry is already monopolized by 10 companies, the majority of which include Vanguard and BlackRock as top shareholders. What happens when they control all of the seeds, produce, and meat too?
California's gas tax to rise to 53.6-cents per gallon on July 1.
Europe’s banking regulator is growing antsy about a booming market for banks: loans that fuel riskier borrowers and the global deal-making machine.
Apr 28, 2022 - 11:59:35 PDT
Those numbers from the April 27 Quinnipiac University Poll are shockingly bad.
Apr 28, 2022 - 11:56:10 PDT
The Census Department Advance Indicators show the trade deficit in goods increased a whopping 17.8 percent in April to the biggest deficit in history.
Apr 28, 2022 - 11:52:10 PDT
The US Department of Homeland Security announced yesterday that it is creating a "Disinformation Governance Board" to fight "disinformation." Heading up the new outfit is, not surprisingly, a highly political Democratic Party operative who is herself a spreader of disinformation. What could go wrong?
Treasury Secretary Janet Yellen said Thursday the global pandemic and Russia’s invasion of Ukraine highlight the possibility of big economic shocks in the future, adding that downturns are “likely to continue to challenge the economy.”