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Keyword: rates

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  • Worst Monthly Spike of “Core Services” PCE Inflation in 22 Years (Will This Lead The Fed To Hike Rates?)

    03/01/2024 6:38:22 AM PST · by Kaiser8408a · 7 replies
    Confounded Interest ^ | 0301/2024 | Anthony B. Sanders
    Well, this might keep The Fed talking heads up at night. Over the past year or so, the Fed has been intensely discussing inflation in “core services,” which is where inflation had shifted to in 2022, from goods inflation which had spiked into mid-2022 but then cooled dramatically. So “core services” is where it’s at. Core services is where consumers spend the majority of their money. Core services are all services except energy services. Core services inflation has been behaving badly for months, and in January, it spiked out the wazoo. The “core services” PCE price index spiked to 7.15%...
  • Record-high credit card interest rates cost consumers $25 billion in 2023: report

    02/22/2024 6:30:02 AM PST · by ChicagoConservative27 · 34 replies
    The Hill ^ | 02/22/2024 | Taylor Giorno
    The average annual percentage rate (APR) on credit cards nearly doubled to 22.8 percent in 2023 from 12.9 percent in 2013, costing consumers around $25 billion in interest fees last year, according to a new analysis by the Consumer Financial Protection Bureau (CFPB). The average APR hit the highest level on record at the end of last year, according to the bureau’s analysis of data from the Federal Reserve, which started tracking it in 1994. The surge in the overall average APR comes as credit card debt has hit an all time high. U.S. credit card debt topped $1.1 trillion...
  • Sundown For Mortgages? Mortgage Purchase Demand (Applications) Down 6% From Previous Week, Down 13% From Same Week Last Year (Mortgage Rates UP 155% Under Biden)

    02/21/2024 6:18:11 AM PST · by Kaiser8408a · 3 replies
    Confounded Interest ^ | 02/21/2024 | Anthony B. Sanders
    Is it sundown for the US mortgage market? Mortgage applications decreased 10.6 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending February 16, 2024. The Market Composite Index, a measure of mortgage loan application volume, decreased 10.6 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 8 percent compared with the previous week. The seasonally adjusted Purchase Index decreased 10 percent from one week earlier. The unadjusted Purchase Index decreased 6 percent compared with the previous week and was...
  • Back In The Saddle Again! Why The Fed Will RAISE Rates (Home Price Growth Reaccelerating, SuperCore Inflation Is Rising, Mass Immigration)

    02/18/2024 8:35:29 AM PST · by Kaiser8408a · 24 replies
    Confounded Interest ^ | 02/18/2024 | Anthony B. Sanders
    The Federal Reserve (aka, The Keep) is back in the saddle again. The Fed has been unable to control inflation since Federal government spending was so fast and furious after Covid that little thought was given to the long-term ramifications of insane spending. Example? Home price growth is rising again. Home prices in traditional “bubble cities” out west were cooling, but are reaccelerating. Even Detroit and Cleveland are seeing rapid home price acceleration. In retrospect, this wholesale dovish euphoria may have been rather short sighted, because after several strong economist reports hit the tape (with the Nov 2024 election growing...
  • There's a 'meaningful' chance the Fed's next move is a rate hike, former Treasury Secretary Larry Summers says

    02/16/2024 1:31:24 PM PST · by RomanSoldier19 · 20 replies
    market insider via yahoo ^ | 2/16/24 | MARKETS TODAY
    A wave of inflationary signals means that the Federal Reserve's next move could be a rate hike, former Treasury Secretary Larry Summers said. "There's a meaningful chance, maybe it's 15%, that the next move is going to be upwards in rates, not downwards," Summers said during an interview on Bloomberg TV on Friday, adding that the Fed has to be "very careful." His read on recent key inflation indicators in January, including a 3.1% year-over-year increase in the consumer price index and a 0.9% rise in the producer price index, formed the basis of his rationale. He added that the...
  • Holy Cross Energy to increase rates as cost of service rises. [ Colorado ]

    02/15/2024 6:56:04 PM PST · by george76 · 14 replies
    Vail Daily ^ | Feb 15, 2024
    Rate increases will go into effect April 1, 2024.. As Holy Cross Energy experiences increased costs due to higher-than-normal inflation and constraints in the supply chain throughout the entire economy, its board of directors approved an increase to its monthly customer rates in January 2024. The increase will be based on individual rate classes and go into effect starting April 1, 2024. This increase addresses rising costs due to inflation and better aligns Holy Cross Energy rates with how its actual costs are incurred. Small and large members are separated by their monthly demand reading falling below or above 50kW....
  • Biden’s Mortgage Market! Mortgage Demand Down 2.3% From Last Week, Purchase Demand Down -12% From Last Year (Mortgage Rate UP 151% Under Bidenomics)

    02/14/2024 6:23:04 AM PST · by Kaiser8408a · 2 replies
    Confounded Interest ^ | 02/14/2024 | Anthony B. Sanders
    Wake Joe up before the economy go goes … down any further. Mortgage applications decreased 2.3 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending February 9, 2024. The Market Composite Index, a measure of mortgage loan application volume, decreased 2.3 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 2 percent compared with the previous week. The seasonally adjusted Purchase Index decreased 3 percent from one week earlier. The unadjusted Purchase Index increased 4 percent compared with the...
  • Wyoming’s coal use mandate raising ratepayer utility bills

    02/12/2024 3:50:15 AM PST · by where's_the_Outrage? · 28 replies
    Public News Service ^ | Feb 12, 2024 | Eric Galatas
    Starting this month, 145,000 Wyoming ratepayers will make a down payment on what's projected to add up to billions of dollars in additional costs. Regulators recently approved Black Hills Energy's new $1.1 million surcharge on utility bills to research the viability of adding controversial carbon capture technologies to coal-fired power plants. Rob Joyce, acting director of the Wyoming Chapter of the Sierra Club, said the rate increases are due to the state's mandate for utilities to continue burning coal. "The people who benefit from these kinds of policies are the legislators who are connected to legacy fossil fuel companies, utilities...
  • The Gathering Storm: 91% of Fund Managers Predict Falling Rates, Echoes of Past Crises

    01/21/2024 7:25:15 AM PST · by davikkm · 17 replies
    A sense of foreboding emerges as 91% of fund managers unite in the belief that interest rates are destined to fall. This unnervingly high consensus has historically preceded major market downturns, reminiscent of the Dotcom bear market in 2000-2001, the Global Financial Crisis in 2008, and the Covid panic in 2020.
  • The Bidenomics Roadmap! Existing Home Sales (4.09 million) Drop To Lowest Level Since 1995 (Lowest SAAR Since 2010)

    01/19/2024 8:13:41 AM PST · by Kaiser8408a · 4 replies
    Confounded Interest ^ | 01/19/2024 | Anthony B. Sanders
    American homebuyers are going down the road of Bidenomics and feeling bad. Is this the roadmap for the US?? Existing Home Sales fell 1.0% MoM in December, worse than the +0.3% expected, leaving sales down Source: Bloomberg Total Existing Home Sales in December 2023 were 3.78mm – the lowest SAAR since 2010… Source: Bloomberg But, on an annual basis, this is the worst year on record (back to at least 1995).. Source: Bloomberg “The latest month’s sales look to be the bottom before inevitably turning higher in the new year,” said NAR Chief Economist Lawrence Yun. “Mortgage rates are meaningfully...
  • Fed Better Think Twice About Rate Cuts! 10-year Treasury Yield Surges To 4.10% After Strong Dec Retail Sales (Consumers Win, Fed/Treasury Lose)

    01/17/2024 10:51:49 AM PST · by Kaiser8408a · 6 replies
    Confounded Interest ^ | 01/17/2024 | Anthony B. Sanders
    The Fed had better think twice about expected rate cuts. The market just isn’t feeling it. Treasury yields rose Wednesday, with the 10-year yield touching almost 4.10% as investors focused on stronger-than-expected December retail sales and the latest remarks from Federal Reserve members. The yield on the 10-year Treasury note was recently up 4 basis points at 4.108% after briefly getting to 4.117%, the highest since Dec. 13. The 2-year Treasury yield rose by around 11 basis points to trade at 4.335%. December’s retail sales data indicated strong consumer demand at the holidays. Retail sales increased 0.6% for the month,...
  • Mortgage rates fall for ninth straight week

    12/28/2023 11:47:46 AM PST · by ChicagoConservative27 · 15 replies
    The Hill ^ | 12/28/2023 | TAYLOR GIORNO
    Mortgage rates fell for the ninth week in a row amid signs that the Federal Reserve could cut interest rates next year. The average 30-year fixed-rate mortgage rate fell to 6.61 percent as of Dec. 28, down from 6.67 percent the previous week, according to new data released Thursday by Freddie Mac. Mortgage rates dipped below 7 percent in mid-December for the first time since August after the Federal Reserve forecasted rate cuts next year. “The rapid descent of mortgage rates over the last two months stabilized a bit this week, but rates continue to trend down,” said Sam Khater,...
  • 2024 Veterans disability compensation rates

    12/28/2023 8:26:10 AM PST · by Red Badger · 12 replies
    Veterans Administration ^ | December 28, 2023 | Staff
    Review 2024 Veterans disability compensation rates. Use our compensation benefits rate tables to find your monthly payment amount. We base your monthly payment amount on your disability rating and details about your dependent family members. How to use the tables to find your monthly payment Find your basic rate Go to the compensation rates for your disability rating. On the Basic monthly rates table, find the amount for your disability rating and dependent status. This is your basic monthly rate. Example (Veteran with no children): If you’re a Veteran with a 30% disability rating, and you have a dependent spouse...
  • Markets see the Fed’s dovish turn as a sign of either a recession or political maneuvering. The only way we get 7 rate cuts is if we’re facing economic disaster.

    12/27/2023 11:52:28 AM PST · by davikkm · 7 replies
    The Federal Reserve’s recent dovish turn, suggesting a possible recession or political strategy, has added a layer of complexity to the challenges faced by the Biden administration. President Biden, grappling with declining poll numbers and economic uncertainties, relies on the Fed’s decisions to shape the narrative leading up to November’s elections. Amid positive economic indicators, such as low unemployment and robust growth, the unexpected move towards falling rates strategically aims to bolster the administration’s appeal to voters. The potential of seven rate cuts underscores the severity of the looming economic downturn.
  • US Investment-grade Bond Yields Have Biggest Two-day Drop Since April 2020 And Covid Economic Shutdown (10Y-2Y Treasury Curve Remains Steeply Inverted)

    12/15/2023 11:23:37 AM PST · by Kaiser8408a · 5 replies
    Confounded Interest ^ | 12/15/2023 | Anthony B. Sanders
    It has been over three years since the disastrous Covid economic shutdowns of 2020. And here we are again! US investment-grade bond yields have just had the biggest two-day drop since April 2020. And the US Treasury 10Y-2Y curve remains steeply inverted. Help me Jerome!
  • The Fed’s desperate rate-cut moves unveil economic weakness during the inflation crisis.

    12/14/2023 6:42:56 PM PST · by davikkm · 33 replies
    In a distressing revelation, the Federal Reserve anticipates three rate cuts next year, acknowledging the challenge posed by persistent inflation. The economic engine falters as demand plummets for homes, vehicles, and goods, painting a grim picture of financial distress among Americans. Once deemed a lifeline, credit cards are now avoided, sinking below pre-pandemic levels. Soaring default rates further darken the economic landscape. Powell’s unexpected dovish shift marks a stark departure from his recent hawkish stance, signaling an alarming shift. The Fed’s surrender to inflation raises concerns, leaving a trail of confusion and uncertainty.
  • Mortgage rates dip below 7 percent after Fed forecasts rate cuts

    12/14/2023 11:26:46 AM PST · by ChicagoConservative27 · 13 replies
    The Hill ^ | 12/14/2023 | TAYLOR GIORNO
    U.S. mortgage rates dropped below 7 percent for the first time since August, according to new data released Thursday by Freddie Mac. Mortgage rates have been falling steadily for the past seven weeks as inflation has eased, and the latest dip follows signs from the Fed on Wednesday that interest rates could come down next year. “Given inflation continues to decelerate and the Federal Reserve Board’s current expectations that they will lower the federal funds target rate next year, we likely will see a gradual thawing of the housing market in the new year,” said Sam Khater, Freddie Mac’s chief...
  • The Powell Pivot! Powell/Yellen Think Everything Is Beautiful While Market Thinks The Fed Will Cut Rates From 5.50% To 4% By December 2024 (150 Basis Point Cut In One Year!)

    12/14/2023 9:22:25 AM PST · by Kaiser8408a · 13 replies
    Confounded Interest ^ | 12/14/2023 | Anthony B. Sanders
    In this corner, we have Fed Chair Powell, Treasury Secretary Yellen, President Biden and Cheerleader Brainard all cheering and singing “Everything Is Beautiful!”. In the other corner, we have … investors who are are betting that The Fed will be cutting the target rate from 5.50% to 4% by December 2024, a cut of almost 150 basis points in one year. Why? First, the US economy is softening. Second, The Fed will want Biden (or whoever Democrats prop up in his place) re-elected as President. While Wednesday’s FOMC statement had barely any changes in it, with the notable addition of...
  • Fed's Powell says next question is when to dial back restrictive stance: press conference

    12/13/2023 12:54:19 PM PST · by Miami Rebel · 2 replies
    SeekingAlpha ^ | 12/13/2023 | Liz Kiesche
    Inflation has eased from its highs without a spike in unemployment, which is good news, but inflation is still elevated, Federal Reserve Chair Jerome Powell said in his post-decision press conference on Wednesday.
  • COVID-19 hospitalizations are increasing in US, rates are highest among oldest and youngest Americans

    12/08/2023 9:56:46 AM PST · by ChicagoConservative27 · 44 replies
    abcnews ^ | 12/08/2023 | Mary Kekatos and Youri Benadjaoud
    For nearly a month, COVID-19 hospitalizations have been increasing following weeks of decline and relatively low levels throughout the summer, according to data from the Centers for Disease Control and Prevention (CDC). As of Nov. 25, there were 19,444 weekly hospitalizations due to the virus compared to 15,006 four weeks earlier, data shows. While this marks an increase of 29.6%, it is lower than the 150,650 weekly hospitalizations at the peak of the omicron wave during the 2021-22 season. Rates of COVID hospitalizations remain elevated among senior citizens, middle-aged adults and children under age 4, meaning the virus is affecting...