In October, only 16 percent of consumers said they think now is a good time to buy a home, a monthly survey by the Federal Home Loan Mortgage Corp. (Fannie Mae) found.
Tag: U.S. economy
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STRONG JOBS REPORT FUELS FEARS OF ANOTHER SHARP FED RATE HIKE
In October, U.S. businesses took on another 261,000 workers, beating analysts’ estimate of 200,000 but also booking the lowest monthly pace of hiring since December 2020.
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FED HIKES RATE 75 BASIS POINTS: AS FORECAST, SMALLER RISES MAY COME SOON
As we noted, we got it half wrong. Since “It’s the economy, stupid,” we had forecast that President Joe Biden would pressure the Federal Reserve not to raise interest rates 75 basis points last week to help boost the equity markets and voter sentiment prior the mid-term elections.
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IS THE FEDERAL RESERVE MERELY INCOMPETENT OR IS THERE A DARK AGENDA?
I have never known the Federal Reserve to make a good decision. Indeed, disastrous decisions are the Fed’s hallmark. There are many such disasters. Among them the Great Depression, the decade long consequence of the Federal Reserve Board’s failure to prevent the shrinkage of the U.S. money supply.
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MORE THAN A THIRD OF SMALL BUSINESSES STRUGGLE TO PAY THEIR RENT
In October, 37 percent of U.S. small businesses were unable to pay all of their rent on time, according to an October survey of 4,789 businesses by Alignable, a small-business network with seven million members.
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ECONOMIC UPDATE – MARKET OVERVIEW
Today is Election Day in America, the country that John Pilger, who wrote “SILENCING THE LAMBS,” said overthrew or attempted to overthrow 50 governments that were mostly democracies, in his lifetime.
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MORTGAGE RATES HIGHEST IN 20 YEARS
The U.S. average interest rate on a fixed-rate, 30-year mortgage reached 7.08 percent during the week ended 28 October, according to the Federal Home Loan Mortgage Corporation (Freddie Mac).
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HIGH RENTS CHILL APARTMENT DEMAND
Third-quarter demand for U.S. apartments sank to a 13-year low after rental rates rose 25 percent over the past two years, according to rental website Apartment List.
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DISTRESSED CORPORATE DEBT RISES. WILL A DEFAULT WAVE FOLLOW?
The number of corporations with bonded debt regarded as “distressed”—a sign that the companies are moving toward default—is the largest since September 2020.
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THIRD-QUARTER GROWTH FAILS TO EASE RECESSION FEARS
During the first six months of this year, Americans spent lavishly on imports, while U.S. exports remained modest.
