Going Down! NAHB Homebuilder Market Index Plunges To Covid-lows Of 31 As Fed Tightens

Ain’t this a kick in the … head.

Rising mortgage rates courtesy of The Federal Reserve’s tightening to fight Bidenflation has led to a Covid-level plunge in the NAHB Homebuilder Market Index.

Everything seems to be going down with a sinking M2 Money growth.

And today, the 10-year US Treasury yield is up over 10 bps. Watch out mortgage rates!