hit

According to the Redfin report, the rise in mortgage rates of around 7% is the highest since July 2007, shortly before the crash that triggered the Great Recession.

Typical mortgage payment soared $337 in just six weeks as interest rates nearly hit 7%

The average American homeowner saw their monthly mortgage payment increase by 15% or $337, according to a shocking new report from Redfin. The report goes on to say that the mortgage rate hike of around 7% is the highest since July 2007, shortly before the crash that triggered the Great Recession. This causes potential buyers …

Typical mortgage payment soared $337 in just six weeks as interest rates nearly hit 7% Read More »

California gas prices hit new highs as supply shortages persist

California gas prices hit new highs as supply shortages persist

Refinery shutdowns and production issues across California are causing gas prices in the state to soar by up to 15 cents a day. Californians paid $6.29 on average, as of Sept. 30, for a gallon of gasoline, about 66 percent more than the national average of $3.80, according to the Automobile Club of Southern California. …

California gas prices hit new highs as supply shortages persist Read More »

Inflation has yet to peak, say CFOs, and recession is already here or about to hit

Inflation has yet to peak, say CFOs, and recession is already here or about to hit

At CNBC’s Delivering Alpha Investor Summit in New York on Wednesday, several big names in the investing community indicated they saw no signs of slowing inflation. David Rubenstein, co-founder and co-chairman of the Carlyle Group, said that while “we’ve been used to 2% inflation for 25 years, we have to get used to the fact …

Inflation has yet to peak, say CFOs, and recession is already here or about to hit Read More »

Timber prices plunge as higher rates hit housing

Timber prices plunge as higher rates hit housing

Text size Homebuilders are seeing more cancellations following the sharp rise in mortgage interest rates. Justin Sullivan/Getty Images Timber prices have fallen more than 60% since the start of the year, but don’t count on a recovery soon. Rising interest rates and inflation will continue to dampen demand for single-family homes. “Homebuilders have faced a …

Timber prices plunge as higher rates hit housing Read More »

Wall Street is completely raving about the pain that's about to hit the stock market

Wall Street is completely raving about the pain that’s about to hit the stock market

The entire global economy is preparing for a growth shock. The Federal Reserve has made it clear that Americans should expect a housing correction, rising unemployment and possibly even a recession as it raises interest rates to calm inflation. Despite this stark warning, Wall Street is still deliriously optimistic about the stock market’s performance in …

Wall Street is completely raving about the pain that’s about to hit the stock market Read More »

Biggest Bitcoin Fund Just Hit Record -35% Discount - A Warning For BTC Price?

Biggest Bitcoin Fund Just Hit Record -35% Discount – A Warning For BTC Price?

Grayscale Bitcoin Trust (GBTC), a cryptocurrency fund that currently holds 3.12% of the total Bitcoin (BTC) supply, or over 640,000 BTC, is trading at a record discount to the value of its underlying assets. Institutional interest in grayscale is drying up On Sept. 23, the $12.55 billion closed-end trust was trading at a discount of …

Biggest Bitcoin Fund Just Hit Record -35% Discount – A Warning For BTC Price? Read More »

As 30-year mortgage rates hit 6.7%, homebuyers face “payment shock.”  Here are ways to save

As 30-year mortgage rates hit 6.7%, homebuyers face “payment shock.” Here are ways to save

Noel Hendrickson/Getty Images Even with signs of a slowing housing market, home buyers are still feeling the sting of high prices and higher interest rates. The average rate for a 30-year fixed-rate mortgage is 6.7% on Friday, down from 3.3% at the start of 2022, according to Mortgage News Daily. Along with that, home prices …

As 30-year mortgage rates hit 6.7%, homebuyers face “payment shock.” Here are ways to save Read More »

Stocks hit 2-year low as central banks step up war on inflation

Stocks hit 2-year low as central banks step up war on inflation

Join now for FREE unlimited access to Reuters.com Register MSCI All-World hits 2-year low Yen stable but traders wary of more intervention Treasuries head for eighth weekly loss LONDON/SYDNEY, Sept 23 (Reuters) – Stocks hit a two-year low on Friday and bonds suffered an eighth weekly loss as investors digested the prospect of a much …

Stocks hit 2-year low as central banks step up war on inflation Read More »