Mortgage Rates over 7% and Heading Higher, Housing Market Still Frozen, Lots of Buyers on Strike as Prices Still Too High by Wolf Richter • Apr 17, 2024 • 180 Comments All that makes sense, but why are there still any cash-out refis when people could take cash out via HELOCs, without losing a 3% mortgage?
Yen Drops to 155 against USD. Currency Collapse at Work, -32% against USD since 2021, -50% since 2012 by Wolf Richter • Apr 16, 2024 • 180 Comments Turns out, collapse of the currency is the price Japan is now paying for years of crazed monetary policies.
Our Drunken Sailors Binge despite Higher Interest Rates, and the Fed Watches them Nervously by Wolf Richter • Apr 15, 2024 • 174 Comments Retail sales by major segment: huge winners (on top: ecommerce and general merchandise retailers), and some big losers.
Banks’ Exposure to CRE Loans by Bank Size by Wolf Richter • Apr 13, 2024 • 80 Comments When CRE hits investors, fine, they were paid to take those risks. But we’re a little more squeamish when it comes to banks.
The Most Splendid Housing Bubbles in Canada: Home Prices Dip Further, -14% from Peak in March 2022, Now Below Sep 2021 by Wolf Richter • Apr 12, 2024 • 104 Comments Condos in Toronto hit 28-month low. But Vancouver house prices only -3.9% from peak in 2022. Calgary house prices jump to new high; oil boom helps.
Two Things about the PPI Today: The March Seasonal Adjustments Were Huge, and the 3-Month Rates All Jumped by Wolf Richter • Apr 11, 2024 • 93 Comments Including by 7.9% annualized for the not-seasonally adjusted PPI, worst since June 2022. So we’ll take a look.
Treasury Yields Spike, 3-Year by 25 Basis Points. Mortgage Rates Hit 7.34%. Services Inflation Smacks Down Rate-Cut Mania by Wolf Richter • Apr 10, 2024 • 185 Comments A Bloodbath was had by all?
Beneath the Skin of CPI Inflation, March: Inflation Behaves Very Badly, Saga Far from Over by Wolf Richter • Apr 10, 2024 • 201 Comments Ugly inflation in services drives up 3-month “core CPI” for 7th month, to 4.5% annualized, worst in a year, and 3-month overall CPI to worst since Nov 2022.
The Biggest Landlords of Single-Family Rental Houses and Multifamily Apartments: Who Owns the US Housing Stock? by Wolf Richter • Apr 9, 2024 • 170 Comments 80% of single-family rentals are mom-and-pop; mega-landlords own just 3%. But mega-landlords dominate multifamily rentals.
What Jamie Dimon Said about Long-Term Inflation, Fed Interest Rates (“2% to 8% or even more”), and QE/QT (it’s Risky) by Wolf Richter • Apr 8, 2024 • 150 Comments “Rates have been extremely low for a long time — it’s hard to know how many investors and companies are truly prepared for a higher rate environment.”
