US Treasury 10Y Yield Highest Since 2014 (30Y Mortgage Rates Near Highs Since 2014) As Home Price Growth Hits 6.41% YoY (Seattle Fastest, DC Slowest)

This is a syndicated repost courtesy of Confounded Interest – Online Course Notes for Financial Markets. To view original, click here. Reposted with permission.

US Real GDP seems to be booming (see yesterday’s Atlanta Fed GDPNow Report for 4.2% growth) while The Fed continues to raise their target rate and unwinding its $4.4 trillion balance sheet. The result? The US Treasury 10-year yield has risen to its highest level since 2014 (red line). And Bankrate’s 30-year mortgage rate survey is near its highest level since 2014 as well.

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2014 is the magic year for interest rates since The Fed’s Treasury Note/Bond and Agency MBS purchases were halted on October 29, 2014.

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Meanwhile, the Case-Shiller repeat sales index for 20 cities rose to 6.41% YoY.

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Seattle and Las  Vegas are the fastest growing cities in terms of home prices (over 10% YoY) while Chicago and Washington DC are the slowest growing (3.6% and 3.3%, respectively).

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Meanwhile, gold has a rounding bottom.

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