Weekly Data

Builder confidence in October 2022, as measured by the National Association of Home Builders, dropped to 33.

Federal Reserve Bank officials explicitly warned investors that the stock and bond market exuberance over the October decline in the CPI to 7.7% was irrational. Treasury bond investors ignored the warning, pushing the 10-year down slightly early in the week.

Homes for sale inventory is climbing rapidly to no one’s surprise. The number of listed homes rose 33.5% in October 2022 from the prior year, according to Real Estate News.

Our recap of the week in numbers from equities to bonds to commodities and housing to the many indices and

The 30-year mortgage rate slid 33 basis points this week from 7.37% to 7.04%, erasing all of last week’s increase.

Wells Fargo Bank and JP Morgan Chase began the news week with a predictable warning about revenue from purchase mortgage originations.

The U.S. equities markets are prowling lows below the troughs early in the Covid-19 pandemic began. Monday of this week, the NASDAQ dropped to its July 2020 level after five straight days of losses.

In an obituary for the “starter home”, the New York Times reported on the scarcity of single-family homes priced under $300,000.

Equities took a beating. The Dow closed at its lowest level in almost two years. The NASDAQ was off more than 5% to close at a level last seen in March 2020. The S&P 500 was off 4.7%.