From CNBC:
Mortgage refinancing drops to a 22-year low as interest rates surge even higher
Mortgage rates drove even higher last week after the Federal Reserve signaled it would continue its aggressive action to cool inflation. That, and rising uncertainty in the overall housing market, caused mortgage application volume to drop 3.7% last week compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index.
After a strange rebound the week before, applications to refinance a home loan declined 11% for the week and were 84% lower than the same week one year ago. They are now at a 22-year low because there are very few borrowers who can benefit from a refinance at today’s higher rates.
The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($647,200 or less) increased to 6.52% from 6.25%, with points rising to 1.15 from 0.71 (including the origination fee) for loans with a 20% down payment. That is the highest level since mid-2008.
“After a brief pause in July, mortgage rates have increased more than a percentage point over the past six weeks,” said Joel Kan, MBA’s associate vice president of economic and industry forecasting. “Ongoing uncertainty about the impact of the Fed’s reduction of its MBS and Treasury holdings is adding to the volatility in mortgage rates.”
Posting from last thread… Ian devastation:
https://tinyurl.com/vpkuddtr
The 30 year fixed will eventually head towards 8% and hover there for a while.
Do those weather reporters wear any protective gear like shin guards and cups? I’ve seen a few wear a motorcycle helmet.
Sure. And some for the equipment as well.
https://bit.ly/3riRdMQ
I like her lol
Apple finally removed Russian VK social media and Russian email from the App store. Time for Google to do the same.
Germany s inflation rate is at its highest in more than 70 years
Germany s inflation rate is at its highest in more than 70 years
Must be those pesky supply chain issues.
Phoenix,
That reporter’s “innovative” equipment protection is already posted on various soc1al media platforms. They knew this was going to get attention. Come on. lol.
Germany s inflation rate is at its highest in more than 70 years.
They need to distribute stimulus packages to households to alleviate the pain.
‘The United States shares a very important relationship, which is an alliance with the Republic of North Korea,’ Harris said during a speech at the DMZ Thursday, intending to refer to the Republic of Korea, the official name of South Korea.
‘It is an alliance that is strong and enduring,’ she continued, not appearing to recognize her mistake.
Karmella and Joe have a lot in common.
Incompetent neophyte masquerading as a cheap political hack realizing the latter actually is a step up from the former…
IIRC she never traveled OUS before taking office?
At some point there has to be minimal real life experience for high office….
Remember how all the media mocked VP Dan Quayle as a dumb guy?
Remember how all the media mocked VP Harris as a dumb girl?
No, you have to watch Fox News to keep track of her many stupidities.
Has SNL done any skits about Biden’s senility or Kamala’s stupidity? I haven’t seen a clip yet. Which shows they are no longer a comedy show with teeth. Instead they’re licking and gumming their boots.
I’m sure they’ll think up plenty of skits in the future about Trump and DeSantis though. They just don’t see anything funny about the current White House.
Left/ Fast: Just shockingly stupid on Harris part. And she believes she is entitled, and qualified to be President of the US. Again, I say to all the proud Democrats after 4 years of the maniac Trump, and all you could offer the American people is Biden/ Harris??
chi, Frozen Apple is vs. UConn? Bizarre….
Second time a hedge has saved me some $$$…crazy markets
also starting to load up short vix….
“after 4 years of the maniac Trump, and all you could offer the American people is Biden/ Harris??”
Agree, but it does speak volumes about Trump’s success. Just wait until they run together in 2024 and win again. The right is going to go mad.
Truth be told, at the end of the day, I am not surprised people are willing to vote for the underqualified and the incoherent. We have mainly devolved into a society that does not hold our politicians to any standard of morality. Lying is now acceptable. Insider trading? So what! There was once a time when a politician would step down when caught with their hand in the cookie jar. Now they don’t even respond. I don’t blame them either, since we don’t hold them responsible for their actions.
In other, WTF news. The family went out to Citi Field last night. To provide us with flexibility, we decided to park at the Secaucus Junction so we could take nearly any train out of Penn Station (NY) on the way home since one never knows when a baseball game is going to end. It’s now $30, to park in that swamp. Then half of the escalators in a station where you must go up about 4 floors and then back down to transfer trains were out of order. Not a big deal to me, but for my son, it sucked royally as his orthotics had just broken. Then, we activated our tickets and the turnstiles wouldn’t take them. Had to have a cop let us through. Same thing on the way back too.
The E was also impossibly slow. It seemed to roll along at 5mph the entire trip from Jackson Heights to Penn, which added an extra twenty minutes to the trip home as we were supposed to be able to catch the 11:18, but instead had to wait for the 11:43. Know what was the worst part? The 11:43 was a Montclair-Boonton Line train. We could have parked for free two miles from our house and just taken that train home.
At least the Mets won in a huge comeback to make it feel worthwhile.
Lib: If they run together and win again, the American people lose again. In my view in this regards the Democrats are worse if all they can offer is these two again.
That is fair. But if the Republicans again nominate Trump, then our Democracy is in real trouble.
Left,
I have some free time today. I am going to do some stock research.
Lib,
“Insider trading? So what!”
Did you see 2B fine on Wall Street for using unapproved, unmonitored channels like WhatsApp? I can assure you that this is the preferred app for nearly everyone in banking. It has been going on for years and years. Everyone on my team uses it and we are in compliance tech. This is absolute drop in the bucket..a laugh fine. Our CTO simply sent out reminder not to use it. This is my bread and butter and there has been absolutely zero care to invest money in COI, insider trading, UPSI controls, information barriers etc. With WFH, you have no idea who is accessing sensitive data in public setting. There needs to be a major regulatory overall on modern comm yet my IB wants to rewrite app to reduce clicks and save costs on team. There is no pressure to investment in enhanced tech or oversight because governments don’t want to regulate their buddies.
Also, until the Rs finally dump their insane Orange idol then Biden/Harris 2024. In 6 mos, we will find out how f-ed up this country truly is.
But if the Republicans again nominate Trump, then our Democracy is in real trouble.
The midnight vote counters in urban districts behind paper-covered windows will see to it that Trump doesn’t get elected. Rinse and repeat. If the Republicans were smart, they wouldn’t announce their vote totals in the hard-working, productive parcels of America until the burghals of progressive utopia announced their lopsided vote totals.
But if the Republicans again nominate Trump, then our Democracy is in real trouble.
I’d prefer they don’t, but there’s really only one side that is actually using the power of the federal government to politically persecute a political opponent here.
Only a sore loser claims the other side cheated. Only a complete nincompoop carries on with the same line of bullshit for four years. Especially after court after court proved otherwise.
As for the paper covered windows. The Republicans might want to consider sending some witnesses of the ballot counting instead of protesting at sites where they forgot to follow the rules. Nonetheless, how many investigations revealed no signs of fraud significant to impact the election?
And then the boob asked his VP to not validate the election to which the crowd of peace loving Christians starts chanting Hang Pence?
This is what you and nearly half the country supports Gary. All proven facts. All incredibly difficult for a person with average intelligence to ignore. Kind of like ignoring the burning hair and flesh of 6 million of your neighbors, as they were cremated.
So after you blow up 60 billion in shareholder money, you open up a new fund and now charge 4%?
So what’s more dangerous?
Incoherent and inexperienced or a cogent person who feels he is above the law, lies with frequency never seen before and is given blanket immunity by his followers.
I think I would side with the former. At least they might listen to the advice of those around them.
BRT, Chatty Cathie is at it again? Just wait until those disruptors halve once again over the next 6 months.
Incoherent and inexperienced or a cogent person who feels he is above the law, lies with frequency never seen before and is given blanket immunity by his followers.
Is this referring to Donald or Sleepy Joe? I can’t tell. That’s the problem.
“I’d prefer they don’t, but there’s really only one side that is actually using the power of the federal government to politically persecute a political opponent here.”
True. And disgusting as well.
We so need a middle. Nah, keep sending in your campaign contributions.
BRT,
“politically persecute a political opponent here.”
True..Benghazi, right? Actually Trump did this shit so there is a major difference.
Not sure I see Biden as a liar. The rest is fair.
Libturd’s Mets win was funded by insider trading.
By, I think there’s a difference between a congressional hearing and wire tapping, raiding homes/offices.
Lib:He has lied in the past, including about his academic performance in law school, the number of degrees he has, and he is also a plagiarist.
He’s also lied about not being involved in his son’s business of extracting money from foreign entities.
Those aren’t lies. That’s just acceptable political establishment corruption. Saying you will build a wall and Mexico will pay for it? That’s a lie.
Meanwhile, Nasdaq is under 10.7 and rapidly headed to 7.7. Pay attention to this! Forget The White House.
The bigger issue is, the dementia’s getting worse. You are now getting daily highlights of it. Who is actually in charge here?
It’s always been the insider trader extraordinaire Pelosi. The VP is Schumer.
Lib
That is not an accident.
Wow on the market. Nasdaq down almost 4%. Corporate earnings are going to suck for a couple of quarters as the consumer tightens up. This is the time to make yourself as valuable to your company as you possibly can. Layoffs are next. Public Sector workers, you are about to see what a farce Murphy was. Your unions were bought off, just like he bought himself the State House.
BRT,
A raid because he stole hundreds of classified documents then lied about it. My god..its not persecution if you flagrantly broke the law, even admit to it. You also understand that FBI raided and seized electronic devices belonging to Clinton aide Huma Abedin right before 2016 election?
Lib: And yet those not lies, lies forced him to drop out of the 1988 Presidential election. I guess it was different back then.
By,
After 4 years of “we really caught him now” and all of it fizzling to nothing, I’m not drawing conclusions. One thing is know is the, day after the raid, everyone had made up their mind without knowing any actual facts. Were they going after Huma, or her pedo husband?
“There is no pressure to investment in enhanced tech or oversight because governments don’t want to regulate their buddies.”
Because there is little relative return to that investment…
Had a couple buddies caught up in the dragnet…it was about confidentiality, not record keeping. Can’t have people on personal phones using common apps for M&A and other market moving data…back in the day a junior M&A banker could be busted hard for referring to a deal by the client’s name as opposed to the Project Name, and that was internally inside the bank with only other bankers…
That was a bad call. I would have just drove to the stadium. It is about the PIA to get there or the $30 to park. You can get home super fast and pay no tolls to do it.
Great game. Very meaningful. If the Mets hold onto first place, September’s malaise will have been worth it. They will be more battle tested than anybody. They are still short on hitting though. They need one more bopper and a health Marte.
Libturd says:
September 29, 2022 at 11:38 am
In other, WTF news. The family went out to Citi Field last night. To provide us with flexibility, we decided to park at the Secaucus Junction so we could take nearly any train out of Penn Station (NY) on the way home since one never knows when a baseball game is going to end. It’s now $30, to park in that swamp
Lib, LMK what you see on stocks…wish you did options, we could talk structures around names I wouldn’t yet go full on long with shares.
Still liking Trex…for shares I would want to see a 3 handle.
Pulled apart WRK again…just finding it hard with the debt and they have a fuckton going on operationally…wish I could get there, feel like that will be a face ripper when it decides to reverse…
Oh my, AAPL….
It’s 768 days until the presidential election, allot will happen between now and then like WWIII.
Can we level here. Forget all the MSM/FOX bullshit for 5 minutes. We already know that politicians are only in it to enrich themselves. This is not debatable. If this was not the case, PACs would be deemed illegal in two seconds. So no party is really better than the other. With that said, it’s clear what’s going on. The Dems see Trump and his Bannon-led propogandist populism as danger to their power and personal enrichment. Trump sees this populist movement as a way to personally enrich himself, hence he has done a full 180 on all of his personal positions. Sure, there is all kind of corruption in our government. Trump has figured out how to enrich himself (and stroke his ego) by claiming to be the attacker of the establishment. Meanwhile, he is just as corrupt himself.
I suppose, one can try to measure the amount of evil each party performs on their way to enriching themselves. But, at the end of the day, they are really all the same. You would think with such similar motives (personal enrichment) the two parties would find more in common with each other. But alas, the policy differences, which are becoming more and more stark, are the keys to opening the tax-payer funded personal bank account. And there just isn’t enough room for all of them.
“Only a sore loser claims the other side cheated…Especially after court after court proved otherwise.”
Agree that the ‘score’ was the score, ie, the number of votes counted and apportioned to each candidate was correct. They counted accurately (enough) how many times a foot rounded home base…
Problem is, the real issue wwas the changed rules of the game…while the ‘score’ was correct the strike zone was changed, baselines changed, and right field was pulled in….
BRT,
If you can listen to that GA call alone and not be flabbergasted at insanity and threats on display then there is no hope that you will get it. Best of luck on your red hat hopes and dreams for 2024.
Lib: There you go, both parties blow!!
Source of funds. Got to get the PE less than 18
leftwing says:
September 29, 2022 at 2:43 pm
Oh my, AAPL….
Don’t take this week too seriously.
These developments are healthy and helpful too.
By, I don’t wear a red hat. If you remember my posts here back prior to 2008, I nonstop complained about GWB. And during Christie’s reign here, the same. I’m only complaining because Blue’s are the ones I have to deal with. My president, senate, house, congressman, senator, mayor, school board, superintendent, are all blue… and they are doing a horrible job.
Lib: The public sector is protected; no layoffs there
Chi,
Would have driven, but we were doing dinner in Jackson Heights before the game. Parking there is pretty much impossible. But yes, we should have done it otherwise and paid $20 to park for dinner. Or just skipped dinner and paid $150 to eat sh1t at the park.
Left,
We still use those project names in our company. It’s complete silliness as we all know who the firms are. The funniest thing is when someone accidentally forgets to replace the project name with the client prior to the EDGAR filings or printed reports.
As for inside trading, many an employee I’ve known has lost their job over tiny trades. It’s never worth it. It’s always been the gambling type. I think they get a rush off of the illegality of it. The payout never is large enough to make it worth it. For what it’s worth, I won’t buy stocks in any company we work directly with.
Lefty, as we approach the bottom (probably the middle of next year), you can give me some lessons. For now, I’m sitting pretty with my market timing. Everything is going exactly as planned. Early retirement is not far away.
Left,
They did change the rules. Sadly, that’s what two party politics has become. It’s no different than gerrymandering districts or making voting as difficult as possible in poor counties in Georgia. Or claiming Obama didn’t have enough time to choose a SCJ but Trump did. The state of politics in this country is sad, sad, sad.
“We already know that politicians are only in it to enrich themselves. This is not debatable. If this was not the case, PACs would be deemed illegal in two seconds.”
I’d nuance more as to cause…the rise of the ‘professional’ politician was never envisioned…
Longevity yields power imbalances, which opens the door for self enrichment.
Clinton needed a co-signer to purchase a home any one of us would have had mortgage bankers falling over to fund; he hadn’t lived in an owned residence for the 25 prior years having been governor then president…
Biden has been in office in DC for 50 years…in Federal office, not just alive…that is 20% of the age of the fucking country….in DC in federal office for 1/5th of our country’s existence….
Not only are people like them establishing power verticals for self enrichment it results in them being totally out of touch with the populace.
Term limits. One six year Presidential term, no re-election. Senators get 2×6. Move the House up to four year terms (so they are not in perpetual election mode) and limit them to two terms. That would solve a lot.
Chi, on the Mets.
The only team that scares me is Los Angeles. No one else in either league has two starters that can outpitch the Mets #1 and #2 nor their closer. I honestly believe, Buck is keeping DeGrom and Scherzer (as well as Lugo) to very limited innings because he is going to be pitching the starters in a three pitcher rotation throughout the post-season. We’ll see if I’m right. The third pitcher will be a combo of either Basset or Carrasco.
We’ll see if I’m right.
It was a great game to be at last night. Tickets were free, though Wednesday night is cheap either way.
It will be basset, most consistent and can go long into the game.
“The public sector is protected; no layoffs there.”
LOL, are they even back to the office?
“If you can listen to that GA call alone and not be flabbergasted at insanity and threats on display then there is no hope that you will get it.”
You cannot be so dense to not see it especially on your side of the aisle…or, I suppose, you believe it was just coincidence that no fewer than three moderates quit the primary on the eve of Super Tuesday; that Iowa really needed an extra week figure out that Buttigieg, Bernie, and Warren finished above Biden in the first contest of the Dem primaries; and the whole Super Delegate farce that exists only within the Dem party that circumvents strong arming by placing party faithful in control of the nomination….yeah, your vote matters there. LOL.
Left: I have been advocating for a one 6 year ten for President for years.
Up 8% on my VIX tranche put on an hour or so ago….dark side Lib, dark side…especially if you have the timing down….
Mother Nature to Florida: f-ck you
Left,
Nice straw man . I think we were talking about the president of the United States threatening GA officials to make up 11000 votes and bringing possibility of legal ramification if they did not do it.
So by “great reset” they meant fucking the entire world up huh…they breaking everything so fast you’d think an asteroid was coming. Deflation is going to come hard.
This will def pop their real estate bubble. See ya…
Ex says:
September 29, 2022 at 4:19 pm
Mother Nature to Florida: f-ck you
DeSantis, Once a ‘No’ on Storm Aid, Petitions a President He’s Bashed
The Florida governor, who as a congressman opposed aid to victims of Hurricane Sandy, is seeking relief from the Biden administration as Hurricane Ian ravages his own state.
As a freshman congressman in 2013, Ron DeSantis was unambiguous: A federal bailout for the New York region after Hurricane Sandy was an irresponsible boondoggle, a symbol of the “put it on the credit card mentality” he had come to Washington to oppose.
“I sympathize with the victims,” he said. But his answer was no.
Nearly a decade later, as his state confronts the devastation and costly destruction wrought by Hurricane Ian, Mr. DeSantis is appealing to the nation’s better angels — and betting on its short memory.
“Nice straw man . I think we were talking about the president of the United States threatening GA officials to make up 11000 votes and bringing possibility of legal ramification if they did not do it.”
Seems you concede the actions…not a straw man for me, I see little difference.
“DeSantis, Once a ‘No’ on Storm Aid, Petitions a President He’s Bashed…Nearly a decade later, as his state confronts the devastation and costly destruction wrought by Hurricane Ian, Mr. DeSantis is appealing to the nation’s better angels…”
Ha. Think your source has the slant wrong….I think he’s ROLF because he knows no way in hell Biden says no to FL with midterms six weeks away….
Libturd,
Agree with the Mets pitching rotations, three guys all the way.
Armchair pundits again here and all over social media and the bodies are not even found yet, it’s only been one day.
So SAY NO to what exactly? There is no legislation. The Hurricane Sandy Bill did not pass until three months after the Hurricane occurred.
I would send Biden down to Tampa to throw out a bunch of paper towel rolls.
Lib – when after nap time and before bed time? Biden can’t tomorrow is the big day for Judge Ketanji Onyika Brown Jackson ceremonial shindig. Poor Kamala has to be back from North Korea for it too and it’s a long long flight home…
Well, we were contemplating Sanibel on teacher convention break. Guess not anymore.
Biden Admin walking back some of the student loan forgiveness, 700, 000 people who had Fed backed loans held by private lenders, and were part of the loan forgiveness plan. Now that is being scrapped unless they had consolidated their loans before Sept 29th of this year.