In seven days we saw a 2.85% cut in buying power — the 23rd largest percentage drop since 1971, bigger than 99% of all periods.
January 18, 2022 at 8:59 a.m.Despite promises of a smooth increase in home financing costs from the Federal Reserve — a prediction reinforced by so-called industry “experts” — we’ve just witnessed one of the largest hits to a house shopper’s buying power in history.My trusty spreadsheet’s analysis of Freddie Mac’s weekly report on average 30-year mortgage rates with a history going back a half-century. That history includes the insane double-digit rates of the early 1980s.
Well, it seems that at least mortgage markets aren’t waiting for the Fed to act. Too many people fear rising inflation — biggest jump in the Consumer Price Index since the early 1980 — will quickly push all interest rates higher, Ponder a house hunter’s worst week in the last 50 years, in terms of buyer power: In the seven days ending March 14,1980, buying power was cut 8.6% as the average mortgage rate went to 15.4% from 14%.
But what we’ve gotten in early 2022 is a huge reminder that while the Fed is a financial market powerhouse, it does not have absolute say in what interest rates do.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Investment giant Invesco predicts the Bitcoin bubble to burst in 2022, to trade below $30kInvestment management firm Invesco is projecting a Bitcoin bubble burst in 2022, citing reduced interest from investors. The projection is... Continue reading
Lire la suite »
Large Bitcoin Whale Addresses Record Growth During Recent Price Dip, Here Is What It MeansBitcoin whale addresses see uptick despite price dip, what does this mean? BTC Crypto
Lire la suite »
Ethereum Gas Site Fees.wtf’s $WTF Token Down 80%, Following $SOS and $GASEthereum gas tracking site feeswtf's $WTF token has plummeted since its initial launch last week, following the trajectory of airdrop darlings The_OpenDAO's $SOS and 0xGasDAO's $GAS. 0x_bae reports.
Lire la suite »
UAE vows retaliation for Houthi-claimed attack, but questions emerge over potential Iran roleIn an area home to some of the world's largest oil producers and key shipping routes, the uptick in tensions is likely to keep crude markets on edge.
Lire la suite »
Bitcoin miners’ resilience to geopolitics — A healthy sign for the networkDoes crypto mining transcend geopolitics? Despite operating through unstable political environments, the recovering hash rate for BTC proves its resiliency.
Lire la suite »
Euro Inflation Hits Record Highs, ECB Not in Rush to Raise Interest Rates – Economics Bitcoin NewsThe European Central Bank is concerned over inflation in the euro area rising beyond its own expectations, an ECB official admitted.
Lire la suite »