Confounded Interest – Anthony B. Sanders
Financial Markets And Real Estate
Housing and rental properties are simply unaffordable.
Freddie Mac Serious Delinquency Rate on Multifamily (Apartment) loans soared to highest rate since 2000. Since it is as of January 31, 2025, you can’t blame this on Donald Trump (although I am sure they will try).
Of course, home prices and rents soared under Biden. Home prices rose 37% under Biden and rents rose 25%. Simply unaffordable.
And The Fed will keep on printing money!
Credit has been deteriorating.
Apparently, we DID get fooled again. In February, there were 500,000 new homes for sale.
While new home inventory hit 500k, existing home inventory rose to 1.24 million homes.
Cause? Home prices are too damn high. Thanks to Powell and The Fed.
Mortgage originations have dwindled under Biden/Harris.
Jerome Powell and the Blackhearts.
The Fed keeps on printing money M2! The Case-Shiller National home price index is up 4.1% since last year YoY as The Fed continues to print money.
Mortgage applications decreased 2.0 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending March 21, 2025.
The Market Composite Index, a measure of mortgage loan application volume, decreased 2.0 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 2 percent compared with the previous week. The seasonally adjusted Purchase Index increased 1 percent from one week earlier. The unadjusted Purchase Index increased 1 percent compared with the previous week and was 7 percent higher than the same week one year ago.
The Refinance Index decreased 5 percent from the previous week and was 63 percent higher than the same week one year ago.
Existing-home sales rose in February, according to the National Association of REALTORS®. For both monthly and year-over-year sales, two major U.S. regions experienced growth, one region remained stable and the other registered a decline.
Total existing-home sales – completed transactions that include single-family homes, townhomes, condominiums and co-ops – progressed 4.2% from January to a seasonally adjusted annual rate of 4.26 million in February. Year-over-year, sales slid 1.2% (down from 4.31 million in February 2024).
But Fed M2 Money printing isn’t helping existing home sales of a YoY basis!
The Imperial March from Star Wars should have been the theme for Bidenomics, the top-down government-directed economy (mainly to political donors). It will take a while for the economy to recover from its addiction to Federal government spending.
Speaking of The Empire, the New York Fed’s Empire State business activity survey declined to -19.30. Would Jerome Powell and The Fed have cut rates had they known about the Empire activity survey yesterday?
Emperor Palpatine. Aka, 10% Joe.
Mortgage applications decreased 6.2 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending March 14, 2025.
The Market Composite Index, a measure of mortgage loan application volume, decreased 6.2 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 6 percent compared with the previous week. The seasonally adjusted Purchase Index increased 0.1 percent from one week earlier. The unadjusted Purchase Index increased 1 percent compared with the previous week and was 6 percent higher than the same week one year ago.
The Refinance Index decreased 13 percent from the previous week and was 70 percent higher than the same week one year ago.
Mortgage rates increased for the first time in nine weeks, with the 30-year fixed rate rising to 6.72 percent. This increase in rates led to a decrease in refinance volume. However, purchase application volume inched up to its highest level in six weeks, led by a 3 percent increase in FHA purchase applications. Overall, purchase application volume is up 6 percent compared to last year at this time. Growing inventories of homes on the market and steadier mortgage rates are supporting homebuying activity thus far this spring.
New USDA data reveals a third consecutive week of price declines at supermarkets.
But the media is always willing to blame Trump for anything, including eggs prices.
Velocity of M2 Money is back to where is was when Trump left office the first time.
Eggs versus M2 Money.
Riding the Trump wave of economic optimism!
The US economy is gradually recovering from Bidenomics (government/donor dictated spending). Mortgage applications increased 11.2 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending March 7, 2025.
The Market Composite Index, a measure of mortgage loan application volume, increased 11.2 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 12 percent compared with the previous week. The seasonally adjusted Purchase Index increased 7 percent from one week earlier. The unadjusted Purchase Index increased 8 percent compared with the previous week and was 4 percent higher than the same week one year ago.
The Refinance Index increased 16 percent from the previous week and was 90 percent higher than the same week one year ago.
Mortgage rates declined for the sixth consecutive week, with the 30-year fixed rate dropping to 6.67 percent, the lowest level since October 2024. As a result, applications increased over the week and were up 31 percent from a year ago.
Turnover speeds are arisin’!
The mortgage market is back! Time to polka!!
Mortgage applications increased 20.4 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending February 28, 2025.
The Market Composite Index, a measure of mortgage loan application volume, increased 20.4 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 22 percent compared with the previous week. The seasonally adjusted Purchase Index increased 9 percent from one week earlier. The unadjusted Purchase Index increased 12 percent compared with the previous week and was 2 percent higher than the same week one year ago.
The Refinance Index increased 37 percent from the previous week and was 83 percent higher than the same week one year ago.
Thank God the adults are in charge in DC instead of the children we saw at Trump’s speech last night.
Trump inherited a brittle economy from “The Fool” Joe Biden. And it is shown up.
The Trump Administration is fighting the remnants of Biden’s policies by cutting spending (DOGE) and deregulation.
All this has resulted in a soaring US Dollar.
Tarot cards have officially renamed “The Fool” card as “The Biden.” Although in Washington DC, there is no shortage of fools (see Maxine Waters (D-CA) and Rashida Talib (D-MI).
Confounded Interest - Anthony B. Sanders 
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