Housing Market

Housing Market

Housing Starts Fall 11.3% As Mortgage Rate Rises

October 14, 2023 RickMad Comments Off on Housing Starts Fall 11.3% As Mortgage Rate Rises

Forbes.com: The private homebuilding rate slid 11.3% from July to August, according to the latest data from the U.S. Census and the U.S. Department of Housing and Urban Development (HUD). August’s housing starts rate was […]

Housing Market

Mortgage Rates March Towards 8%, Pushing Demand to the Lowest Level in 27 Years

October 14, 2023 RickMad Comments Off on Mortgage Rates March Towards 8%, Pushing Demand to the Lowest Level in 27 Years

Realtor.com: The numbers: Home buying demand dropped as U.S. mortgage rates rose for the fourth week in a row to the highest level since 2000. Mortgage demand dropped to the lowest level since 1996 as […]

Economy

Recession Watch: Red Flags Everywhere You Look

October 14, 2023 RickMad Comments Off on Recession Watch: Red Flags Everywhere You Look

DollarCollapse.com: The hardest part of writing this kind of post is sorting through all the red flags. There are just too many these days. So here are the handful that look scariest at the moment: […]

Housing Market

Pending Home Sales Plunged Last Month as Mortgage Rates Hit 20-Year Highs

September 29, 2023 RickMad Comments Off on Pending Home Sales Plunged Last Month as Mortgage Rates Hit 20-Year Highs

CNN.com: US pending home sales dropped 7.1% in August from the month prior as mortgage rates surging over 7% in August to levels not seen in 20 years packed a punch. Pending sales had been […]

Economy

Peter Schiff: It’s the Beginning of the End of This Whole Phony Economy

September 28, 2023 RickMad Comments Off on Peter Schiff: It’s the Beginning of the End of This Whole Phony Economy

Schiffgold.com: Interest rates continue to push relentlessly higher. As Peter Schiff explained in his podcast, that’s a big problem when the entire economy is built on a foundation of cheap money. But most people in […]

Housing Market

Homebuilder Sentiment Goes Negative For The First Time In 7 Months, Thanks To Higher Mortgage Rates

September 18, 2023 RickMad Comments Off on Homebuilder Sentiment Goes Negative For The First Time In 7 Months, Thanks To Higher Mortgage Rates

CNBC.com: U.S. homebuilders are feeling pessimistic about their business for the first time in seven months, thanks to stubbornly high mortgage rates. Builder confidence in the single-family housing market fell 5 points in September to […]

Housing Market

Mortgage Demand Stalls at a Level Not Seen Since 1996

September 13, 2023 RickMad Comments Off on Mortgage Demand Stalls at a Level Not Seen Since 1996

CNBC.com: Higher mortgage rates continue to take their toll on mortgage demand, especially for refinancing. Total mortgage application volume dropped 0.8% last week compared to the previous week, according to the Mortgage Bankers Association’s seasonally […]

Economy

Recession Or Soft Landing: What’s Next for the U.S. Economy?

September 8, 2023 RickMad Comments Off on Recession Or Soft Landing: What’s Next for the U.S. Economy?

Forbes.com: Investors are more and more confident that the U.S. economy can avoid falling into recession in 2023. This so-called “soft landing,” the sweet spot between cooling inflation and a still-growing economy, appears to be a real […]

Housing Market

Expert Says ‘Some Kind Of Miracles’ Needed In ‘World Of Real Estate’ To Reverse Trends

September 5, 2023 RickMad Comments Off on Expert Says ‘Some Kind Of Miracles’ Needed In ‘World Of Real Estate’ To Reverse Trends

FoxBusiness.com: Freddie Mac reported rates for a 30-year fixed mortgage averaged 7.18% as of Thursday. The housing market continues to leave homebuyers struggling to find affordable options as mortgage rates surge and inventory remains scarce.  One industry […]

Housing Market

Mortgage Rates Finally Drop—But Is It Enough To Revive the Fall Housing Market?

September 4, 2023 RickMad Comments Off on Mortgage Rates Finally Drop—But Is It Enough To Revive the Fall Housing Market?

Realtor.com: After rising for an alarming five weeks straight, mortgage rates have at long last cooled a bit. For the week ending Aug. 31, rates for 30-year fixed-rate loans averaged 7.18%, according to Freddie Mac. […]