From Rich Smith (TMFDitty): on a few more. But do these analysts even know what they’re talking about? Today, we’re taking two high-profile Wall Street picks and putting them under the microscope…
From Reuters: NEW YORK (Reuters) – U.S. mortgage applications fell for a third consecutive week even as some 30-year home borrowing costs declined to their lowest levels since April 2018 in line with lower bond yields, the Mortgage Bankers Association said on Wednesday.
From Brittany De Lea: Homebuyers are increasingly opting for nontraditional mortgages – which helped precipitate the housing crisis about one decade ago – potentially foreshadowing trouble as high prices continue to weigh on housing affordability.
From Diana Olick:
From Tyler Durden: When we reported Wells Fargo’s Q3 earnings back in October, we drew readers’ attention to one specific line of business, the one we have repeatedly dubbed the bank’s “bread and butter“, namely mortgage lending, and which as we then reported was “the biggest alarm” because “as a result of rising rates, Wells’ residential […]
From Ally J. Yale: If home prices and mortgage rates continue their upward trends, more than 1 million American households could get priced out of the housing market.
From Yun Li:
From Prashant Gopal: James Stack, who predicted the 2008 real estate crash and nailed last year’s housing slowdown with uncanny timing, is back with some bad news for 2019.
From Alex Veiga: Americans’ path to homeownership is likely to get more expensive this year, even as a severe shortage of homes for sale shows signs of easing.
From Tyler Durden: Pending and New home sales both tumbled in October, but existing home sales managed a modest SAAR bounce; and while expectations were for some give-back in November, existing home sales managed an upside surprise – rising 1.9% MoM. However, that is the end of the good news.
From Diana Olick: Pending homes sales, a measure of signed contracts to buy existing homes, fell 2.6 percent compared with September, according to the National Association of Realtors.
From ETF Channel: Exchange traded funds (ETFs) trade just like stocks, but instead of ”shares” investors are actually buying and selling ”units”. These ”units” can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Each week we monitor the week-over-week change in shares outstanding data, […]
From Adam Taggart: As we’ve been tracking here at PeakProsperity.com, the housing market is starting to look quite ill.
From Tyler Durden: Despite a modestly better than expected 1.4% MoM rise (after September’s 3.4% slump), existing home sales slumped 5.1% year-over-year – the biggest drop since 2014.
From Tyler Durden: As Upton Sinclair once famously said: “It is difficult to get a man to understand something, when his salary depends on his not understanding it.”