Yes, there are many central banks around the globe. But the US Federal Reserve is leading the way with a staggering 24.9% YoY growth in M2 Money Stock. M2 growth barely exceeded 10% during the US financial crisis and Great Recession.
In terms of Treasury holdings, the Fed is beating all other major central banks.
The latest report from the Mortgage Bankers Association released this morning shows that mortgage purchase applications rose 5.34% from the preceding week on a seasonally adjusted basis.
You can see that mortgage purchase applications rebounded from the Covid-19 dip as housing prices continue to rise. What makes this post-financial crisis rise in mortgage purchase applications interesting is the decline in the level of sub-660 FICO score originations.
Of particular note in the mortgage industry is the announcement that Quicken Loans (aka, Rocket Mortgage) will be going public.
(Bloomberg) — Rocket Companies Inc., the parent company of the mortgage giant founded by billionaire Dan Gilbert, filed for an initial public offering, disclosing an annual profit for the past three years.
Here is Dan Gilbert in happier times with forward LeBron James and an aging point guard Warren Buffett.