When a Nobel Laureate in economics says that the housing market has been overheated since 2012, people listen.
For the first time since April 2012, core Personal Consumption Expenditurs Prices YoY rose 2%!
And today, the US Treasury 10Y-2Y slope further flattened to 31 basis points.
It is no secret that Deutsche Bank in not a fan of The European Central Bank (ECB) and partly blames its woes on the ECB’s monetary policies.
The Smart Money Flow Index is a technical analysis indicator demonstrating investor sentiment. And it has just crashed to its lowest level since 2011.
The role of residential mortgage lending has been shifting from large banks to non-banks with the growth of Quicken Loans (and their products Rocket Mortgage). Now we are seeing investors jumping into the housing arena such as FlyHomes.
The Atlanta’s Fed’s GDP tracker has upgraded Q2 GDP to … 4.7%!
Doctor, doctor, here is the news. We have a bad case of affordable housing blues in the US.
Again, the US economy and housing market are hot-hot-hot. New home sales for May surprised analysts by rising 6.7% MoM to 689k units SAAR.
On the one hard, we see that the US economy is hot-hot-hot. On the other hand, we see warning signs like … the US Treasury curve has flattened to a post Great Recession low. Throwing gas on the smoldering fire is this Moody’s report that approximately 60% of the number of rated issuers are graded
Like the Star Wars film franchise (each worse than the other), now we have yet another “What do we do with Fannie Mae and Freddie Mac’ proposal, this one from The White House.