From Mortgage News Daily:
Rates Surge Toward 8% After Jobs Data; Can “Spreads” Help?
Rates were already high coming into this week. As of last Friday, that meant an average 30yr fixed rate just under 7.5%. As of this Friday, we’re closer to 8%.
Certain lenders may be quoting lower rates, but that often involves the presence of discount points. The Freddie Mac survey (orange line above) doesn’t account for discount points. It’s also a weekly average and has not yet counted the rates seen on Thursday or Friday.
Friday brought a sharp rise to the highest levels in 23 years. The most obvious culprit was the big monthly jobs report which showed job creation (nonfarm payrolls) increasing far faster than economists predicted. It was one of only a handful of months in the past few years that came in higher than the 12 month trailing average.
Frist baby!!!
8% rates. It was crazy to watch my coworkers making $75k a year sign mortgages for 800k. Now, the slightly younger ones are upset they can’t even afford a townhome in a modest suburb of NJ with the rates at 8%.
Part time gigs dominate yesterday’s job report as people supplement their 40 hour careers in an attempt to meet mortgage, food, rent, car, taxes, insurance and credit card payments. People are living to work just to keep their heads above water. This becomes a false read for the FED, keeping rates higher for longer. As for 1st time homebuyers within the gravity of NYC, saving for a down payment will leave them on the brink of default as savings cushions will be non-existent, post closing.
“If conservatives become convinced that they can not win democratically, they will not abandon conservatism. The will reject democracy.”
David Frum
Genius – Frum is Canadian he swears allegiance to the King. It’s a constitutional monarchy up there and the land where you have to pay for news on the internet and you cannot use a swear word in public. They also went crazy during Covid and closed their borders completely. His opinion working as a Bush Speechwriter and the fact he voted for Hillary makes him a unique kind of NeoCon, the kind that wants to drag us into WWIII.
These kids today are real Ghouls
Raising money so they can go on vacation to mourn their friends death?
https://www.gofundme.com/f/ryan-carson
GoFundMe Set Up So Friends of Stabbed-to-Death Brooklyn Activist Can Take off Time work.
“Iran Says There Are no Restrictions on How it Will Use $6 Billion Released by Biden.”
Any questions?
Juice,
When your presidential candidate and his choice for speaker have conspired to overturn a legitimate election, Frum’s observation makes perfect sense. I don’t care if he is from Mars!
Trump and Jordan are today’s Republican party. If you are a Republican, these are your people. If they aren’t your people, you better find a different political identification.
different political identification?
I told you we are fed up. Ross Perot time.
https://www.forwardparty.com/
“No Labels” gets more press, and is hated by most media outlets.
https://www.nolabels.org/
‘We Are at War,’ Netanyahu Says After Hamas Attacks.
Camel’s back has 14 slipped discs, osteoporosis and arthritis. How many more straws will it take for the back to break?
Juice Box says:
October 7, 2023 at 10:07 am
different political identification?
I told you we are fed up. Ross Perot time.
Christine Todd Whitman? Ain’t nutt’n forward about that one. As far as I am concerned this is dead on arrival, GOMER.
Time to remember Trump’s great jobs report, prior to pandemic.
WASHINGTON — The U.S. jobs market ended 2019 on a sour note, with December’s payroll and wage growth missing expectations, according to Labor Department figures released Friday.
Nonfarm payrolls increased by just 145,000 while the unemployment rate held steady at 3.5%. Economists surveyed by Dow Jones had been looking for job growth of 160,000.
In addition to the slow payroll growth, average hourly earnings rose by just 2.9%, below the 3.1% projection. December marked the first time that wage gains were below 3% on a year-over-year basis since July 2018.
Forward party?
More like the air is safe to breathe party.
No credibility with that vile person as part of its leadership.
HMB
all America has is a bunch of effing recycled dinosaurs trying to reinvent themselves.
“Genius….”
Even better Juice, he thought enough of it to post the cat vomit twice. He’s the Pumpkin of politics here.
“When your presidential candidate and his choice for speaker have conspired to overturn a legitimate election…”
IIIIINNNNNN-SSSUUURRRRRRRRR-EKKKKKKKKKSHUNNNNNNN!!!!!
Duh-mah-crasy is DYING!!!!!!!!!!
I like Yang you tools, every team has pock marks. How many other Republicans would even consider joining the left for any party in the middle?
https://www.theguardian.com/us-news/2023/sep/12/andrew-yang-third-party-2024-no-labels
Juice
I used to like not having asthma, chronic joint pain, and being cancer free.
Beer – Are you in the World Trade Center Health Registry? I walked through and breathed in the dust every for well over a year, before I quit and took a nice quiet job in the burbs.
There is no political party without it’s war criminals.
How about fund an attack on Israel?
Coincidence on timing? I think not.
If you are a Jew and you vote for Biden, there is blood on your hands.
Fast Eddie says:
October 7, 2023 at 9:29 am
“Iran Says There Are no Restrictions on How it Will Use $6 Billion Released by Biden.”
Any questions?
Hamas using a Jeep in one video, what a great ad for them.
Crappy American vehicle, can’t even close the hinged tire carrier on the back.
The other arabs (or whatever they are) using Toyotas, well, at least they read Consumer Reports.
Did anyone check Menendez’s house? He has a fetish for gold….
The FBI has been accused of digging up hundreds of millions of dollars worth of Civil War gold in Pennsylvania in the middle of the night and hiding it
Eric McCarthy, 45, and Don Reichel, 73, reported signs of FBI’s night dig in 2018
They said they heard early-morning clatter and saw heavily loaded trucks in the remote woods of Elk County, Pennsylvania at around 5am
The FBI’s timeline shows the search team didn’t arrive at the site until 8am
In case you didn’t know, maga’s supremacist base don’t like blacks or jews
Chicago says:
October 7, 2023 at 1:43 pm
How about fund an attack on Israel?
Coincidence on timing? I think not.
If you are a Jew and you vote for Biden, there is blood on your hands.
Fast Eddie says:
October 7, 2023 at 9:29 am
“Iran Says There Are no Restrictions on How it Will Use $6 Billion Released by Biden.”
Any questions?
Very Stable: The fundamentalist Christians are big supporters of Israel. Lots of Liberal Democrats who are anti Israel and anti semetic.
Chicago: This attack comes right before Israel and Saudi Arabia were close to signing an agreement that in part have Saudi Arabia recognize Israel. Iran does not want this.
Are you saying that maga is racist but no “anti semetic”
3b says:
October 7, 2023 at 2:18 pm
Very Stable: The fundamentalist Christians are big supporters of Israel. Lots of Liberal Democrats who are anti Israel and anti semetic.
So glad we will have a democratic primary to protect democracy
3b, he’s a little confused, he hasn’t gotten a clear talking point to take a side yet since the LBGTQPSI+ march for Palestine.
The $6 billion released for use by Iran is not a good look. Those actually running the current administration (not Mr. Biden obviously) tend to make lots of foreign policy blunders. They also tend to make lots of domestic policy blunders as well. Now Mr. Biden supports building a wall? I remember being told walls were ineffective, racist and a waste of money. What gives?
Very: I am saying I believe a lot of fundamentalists might be maga supporters, fundamentalists overwhelming support Israel, and they are not anti semetic. As for maga being racists I am sure some are, but you do see Blacks and Hispanics at Trump rallies.
As for the Democrats, like I said there are Democrats who are anti Israel/ anti Semetic. And there are Democrats who are quiet racists too.
Repubs have blood on their hands according to your former leader:
Former Vice President Mike Pence tore into Donald Trump and pointed to isolationism in the Republican Party as complicit in the sweeping Hamas attack on Israel, decrying American “retreat on the world stage.”
In a scathing rebuke of isolationism in the Republican Party, Pence faulted “voices of appeasement like Donald Trump, Vivek Ramaswamy and Ron DeSantis that I believe have run contrary to the tradition in our party that America is the leader of the free world.”
https://www.insider.com/rosemead-high-secrecy-sexual-misconduct-flourished-2023-9
Score one, well I guess a few – actually more than a few – for the teachers…..
9:29 it was their money to begin with and we freed Americans.
Watch ….those folks that were captured in the Gaza….are dead.
They won’t negotiate with Hamas. Conservative values?
2:18 strange bedfellows. They “support” Israel because as soon as Israel becomes embroiled in what hardcore Christians believe is Armageddon / Christ will return,
Still waiting on the rapture, but that date is a moving target.
“In a scathing rebuke of isolationism in the Republican Party, Pence faulted voices of appeasement…that I believe have run contrary to the tradition in our party that America is the leader of the free world.”
Sorry, bub.
2am, the lights are on, the floor is littered with detritus, and the financial and emotional cards you used to play BMOC for a few decades are being rejected at the terminal….
Find someone else’s money and sons to pay the tab.
Ex: They believe Israel has to exist before Christ/ God whatever you want to call him or her if you prefer has to exist before the second coming. No Israel, no second coming. At the end of the day, does not change the fact that the fundamentalist Christians are fervent supporters of the state of Israel.
3:02 I hear ya – but imho for all the wrong reasons.
Ex: Perhaps, but I would say better than those who say they support Israel and don’t.In the end innocent people were killed, but Israelis and Palestinians, at the behest of those holy men in Iran.
So, in just a few days, we discovered that O’Biden is rac1st against people in Mexico, Central and South America and Israel. Who knew he was a born leader of the white supremacy movement!
O’Biden is so demented that I wouldn’t accept his consent for a medical procedure. Guess I’d have to wait until Hunter’s daily drug dose wore off and he had power of attorney.
Gotta work more overtime, since I now have to support another war that my effen country should stay the F out of.
I don’t have tax write offs like all you beeches. F’n middle class.
I need to get on welfare. Stat.
US reaction will be hampered by maga kicking out Speaker of the house and not approving ambassador to Israel. Governance is not magas forte
Phoenix, think of it as a global game of whack a mole. The US is hitting Russia, next minute, we’ll go to the middle east again, a few months later, we’ll be in Taiwan. And if you go to a college campus, all the kids are drooling and cheering on the war.
BRT: Are you saying the college kids who are Democrats support the war/s and the ones who are Republicans don’t?
re: “we’ll be in Taiwan”
Nope 100 miles to mainland. It will look like the moon if we even attempt it.
In general, that seems to be the flavor. As much as everyone hates Trump, he was the one who turned the war switch off on the right wing populace. The Liz Cheneys and Bushes of the world are still on board with the war machine. If you saw those left wingers surround Vivek the other day, you could see they are itching for war. They remind me of the right wingers on Sept 12, 2001.
NeoCon = NeoLib
go look at an oil chart during the 1973 war in Israel, that won’t be good.
Truth:
BRT says:
October 7, 2023 at 9:01 pm
In general, that seems to be the flavor. As much as everyone hates Trump, he was the one who turned the war switch off on the right wing populace. The Liz Cheneys and Bushes of the world are still on board with the war machine. If you saw those left wingers surround Vivek the other day, you could see they are itching for war. They remind me of the right wingers on Sept 12, 2001.
Comments on Twitter are that Hamas is using Huawei mate 60 phones that Pegasus hasn’t hacked.
I guess unlike American companies where there are spies in corporate putting CIA allowed backdoors in our top dollar phones the Chinese have not.
I like it when my own country allows foreigners to hack into my personal devices I paid good money for. Guess I should send them all of my bank info as well.
No bother, they probably already have it if they wanted it.
The police have no duty to protect. Warren vs District of Columbia.
Tesla boys stick their nozzles in at home, in the privacy of their garage, they don’t need no stinkin’ gasoline, nor pay road tax, or sales tax, so I get to pay all of it for them.
They are as parasitic as people on welfare. Except they can afford to pay, which makes it worse.
BRT says:
October 7, 2023 at 9:25 pm
go look at an oil chart during the 1973 war in Israel, that won’t be good.
Capitalizm. Yeah, with a Z.:
This time, though, getting a car was even more expensive. The cheapest reliable car he could find, a Toyota Corolla with 89,000 miles, cost $18,240 including taxes and fees. With a 15.2 percent interest rate and an extended warranty, that left him with monthly payments of $451.
Looking for insurance, he couldn’t find anything less than $323 a month for the most basic plan.
Saudi Arabia accused Israel of provoking Palestinian hostility after a lethal Hamas attack from Gaza that claimed scores of Israeli lives.
“The kingdom calls for an immediate halt to the escalation between the two sides, the protection of civilians, and restraint,” the Saudi Foreign Ministry said Saturday, as Israeli Defense Forces engage in “gun battles” with Hamas terrorists. “The Kingdom recalls its repeated warnings of the dangers of the explosion of the situations as a result of the continued occupations, the deprivation of the Palestinian people of their legitimate rights, and the repeating of systematic provocation against its sanctities.”
Ex: That’s the end of the Israel/ Saudi Arabia agreement.
Looks like home heating oil prices gonna rise.
Put on the sweaters. Take shorter showers. Put your wife on Only Fans.
Home heating oil market is slowly circling the drain.
Gas companies expanding, increased efficiencies of electric heat pumps and gas (LP) furnaces / boilers have made heating via oil a lousy proposition.
Their will always be some pockets, mostly rural, but even the most ardent contractors in the heating oil market have seen most of their business switch to non oil work.
From NY Times:
Fearing Third-Party Spoilers vs. Trump, Biden Allies Try to Squash Them
With Democrats worried that a third-party bid could throw a tight race to Donald Trump, President Biden’s top aides have blessed a broad offensive to starve such efforts of cash and ballot access.
…As attempts to mount outside campaigns multiply, a broad coalition has accelerated a multipronged assault to starve such efforts of financial and political support and warn fellow Democrats that supporting outsider candidacies, including the centrist organization No Labels, could throw the election to former President Donald J. Trump.
https://tinyurl.com/32apr77a
3rd parties are obviously a threat to our democracy
10:41 at this point I assume the Israeli military is turning Palestine into a parking lot.
Link: https://www.bloomberg.com/opinion/articles/2023-10-07/hamas-s-attack-on-israel-just-torched-biden-s-deal-to-remake-the-middle-east
I gotta circle back & agree with Gary. The Iran deal looks terrible bin this light.
Biden’s gotta go.
If anyone is a hot sauce fan, you should give Three Mountains Yellow Sriracha a try. Ironically, I’m not a big Sriracha guy. But this is one of the most tasty sauces I’ve ever had. Made from yellow Thai peppers. Very versatile.
According to the article from ExLax
Both Trump and Biden were sucking Saudi ejaculate in order to make a deal and eliminate China from the area.
The US State Department is a bunch of Dotards.
ExLax says:
October 8, 2023 at 10:02 am
Biden’s gotta go.
Guess he had too much ExLax.
Didn’t take long for the fire to spread:
Two Israeli tourists ‘shot dead by Egyptian police officer’ outside Roman tourist site in Alexandria as Gaza conflict stirs tensions across the Middle East
The attack took place at popular tourist site Pompey’s Pillar on Sunday morning
OOOOh, Sexy
‘Agents say that, whether at the vice president’s residence or at his home in Delaware, Biden has a habit of swimming in his pool nude,’ Kessler wrote in his book, The First Family Detail: Secret Service Agents Reveal the Hidden Lives of the Presidents.
‘Female Secret Service agents find that offensive,’ he noted.
Phoenix: That has been known for some time. And, it’s understandable that female agents would not be comfortable with that, or any agent. It’s creepy. No one wants to see that, put a bathing suit on!!
Ex; Hamas has Israeli hostages many of them civilians, as well as military. It’s going to be very difficult for Israel in how they respond.
Unfortunately for the hostages most will be lost.
Phoenix
Swimming in the pool nude helps him steer. The rudder effect.
Juice
I’m in the registry. Was diagnosed with asthma more than 5 years after 9/11 so denied coverage. 1/3 of people in the WTC health program have been diagnosed with chronic inflammation but that’s not covered either. I only get coverage for skin cancer I have had. If I get a different type of skin cancer first one is out of my pocket. Dermatologist has me taking a bunch of vitamins and supplements but none of those are recognized by the program either.
American banks don’t trust American savings bonds- haha
When Did Cashing Savings Bonds Become So Impossible?
Citing potential fraud, banks are making it increasingly difficult to pay out savings bonds.
‘They didn’t stand up to Trump’: how the Republican party descended into disarray
Rich Lowry, editor-in-chief of National Review magazine, wrote: “Republican backbenchers used to be people such as Jack Kemp and Paul Ryan, who became something by promoting ideas that they carefully developed, sincerely believed, and persuaded their colleagues to embrace. Now, the emphasis is on becoming a micro-celebrity via constant outrage.”
Bardella, a former spokesperson for the conservative Breitbart News who is now a Democratic strategist, added: “Matt Gaetz isn’t the cause. He’s a symptom of the complete radicalisation of not only the Republican party a the conservative rightwing media sphere in general.
“Their deliberate decision to amplify the most extreme voices and give them a platform and give them a microphone and give them an audience every single night of the most ardent Republican primary voters to watch it, absorb it, paved the way for the chaos that has engulfed the entire Republican party right now.”
Great comment from someone…
Perhaps work is such an obsession amongst younger generations because it is the sole life-preserver in a society that refuses us decent healthcare, affordable education, and accessible housing; mind you Boomers benefitted from these social benefits only to turn around and slash them away—for their own benefit.
Why do so many young people value career over family? Maybe because raising a family without an exceptional career is completely untenable in a society—built by boomers—that made work (money) the only means to secure home, health, and “happiness”.
Many boomers in this comment board correctly identify their generation as the apotheosis of “Me generation” entitlement. They would’ve fed their elders into the meat-grinder if they had to opportunity. Now long after they took power, and still cling to it, they’ve pulled up the ladder behind them only to complain about the resentment from younger generations?
Ok boomer.
“Perhaps work is such an obsession amongst younger generations…”
Not seeing this at all….
My observation across my kids/my family’s kids/their friends (flyover), my kids/neighbor’s kids/my friend’s kids (NY metro), and my home (GenZ hotspot) is the opposite…
These kids value work-life balance most highly.
They’ll make ‘sacrifices’ to get there….my generation and peer group seemed focused on ‘possessions’ as socially important when young…where did you live (city v. burbs, Manhattan v. outer boros), what type of car, clothing, where did you vacation/summer….hell, your job and the (high) number of hours worked was a badge of honor…
I see in this generation across all three cohorts above – flyover, metro, and GenZ hotspot – the attitude that work is just work, something you do to enjoy IRL.
Nearly every person of this generation I know that went into IB, more than a few, is out in a few years to a more balanced position outside the industry. They knew what they were getting into, but they also knew it was a stepping stone to a more balanced out.
My own kid (the software developer) has told me flat out he doesn’t want the lifestyle I had…yeah, a lot of financial and other benefits but horrible balance. He focuses on four or five passions (mostly athletic) and travels all over from his GenZ homebase. He’s at some college football game this weekend in another State somewhere with some friends meeting up. The world is still turning and his company’s apps are still running…My nephew, the other SD working two FT remote jobs, just lost one. To him no big deal, ski season is coming he’ll cut back and manage on the one paycheck and look at trying to pick up another in the Spring.
GenZ in my area, especially the women? Seem very balanced. They’ll work, conscientiously and even a little extra, but when the whistle blows and the weekend comes it’s their time.
It almost feels from my observation that their (stated) non-judgmental attitude has freed up these kids from being bound to strict comparison channels which led to an unhealthy ladder climbing race ever upward for prior generations. Exactly where they live and exactly which car they drive is just not that important…
It’s as if the extreme bookends of Woodstock attendee and Alex Keaton got together and had kids, with the kid getting the genetically best component of each parent…
Pretty healthy, actually.
Wish I had their attitudes when I was their age.
Why oh why did I let my kids convince me to go to Six Flags today? Going to be here for another 8 hours too.
Speaking of GenZ etc there are more than a few males playing the non-binary game here today. Painted nails, some women’s glasses with long hair and one wearing women’s furry boots etc. Most of who aren’t even Beta they are Zeta males who have had little chance with a quality women above a 5 on the scale. The same quasi artsy types that were Gen X, pretend they were gay to befriend women to score. Kind of like threes company or busom buddies.
Know your enemy:
Shias, a term that stems from shi’atu Ali, Arabic for “partisans of Ali,” believe that Ali and his descendants are part of a divine order. Sunnis, meaning followers of the sunna, or “way” in Arabic, of Mohammed, are opposed to political succession based on Mohammed’s bloodline.
The overwhelming majority of Iranians practicing Shi’i Islam. About 90 percent of Iranians practice Shi’ism, the official religion of Iran. By contrast, most Arab states in the Middle East are predominantly Sunni.
You need to do this, otherwise women will view you as a threat. These types of guys where I work are most popular, they are seen as less threatening.
“Speaking of GenZ etc there are more than a few males playing the non-binary game here today. Painted nails, some women’s glasses with long hair and one wearing women’s furry boots etc. Most of who aren’t even Beta they are Zeta males who have had little chance with a quality women above a 5 on the scale. The same quasi artsy types that were Gen X, pretend they were gay to befriend women to score. Kind of like threes company or busom buddies.”
“Work” is career/education.
Not saying they actually want to “work.”
What they want is a masters degree, get paid based on it, then have their “work/life balance.”
Many just do the minimum needed to get by.
leftwing says:
October 8, 2023 at 1:04 pm
“Perhaps work is such an obsession amongst younger generations…”
Not seeing this at all….
My observation across my kids/my family’s kids/their friends (flyover), my kids/neighbor’s kids/my friend’s kids (NY metro), and my home (GenZ hotspot) is the opposite…
These kids value work-life balance most highly.
ExLax,
This guy explains the whole situation well, if you have the time for it.
https://youtu.be/mMJWJ9AtvjU?t=767
PoPo gonna make more overtime. Taxes to increase. Work harder.
Jewish counter-protestors face off with hundreds of Palestinian backers who descended on NYC’s Times Square as Hamas continues assault on Israel
Protesters gathered with megaphones and yellow signs reading: ‘Resistance against occupation is a human right’ and ‘end all US aid to apartheid Israel’
Yesterday, Gov. Hochul described the rally as abhorrent and morally repugnant after Hamas militants invaded Israel and slaughtered hundreds of citizens
“People ask me what the difference is between athletes today and 40 years ago — today everybody wants to talk about their rights and privileges, and 40 years ago we talked about our obligations and responsibilities.” ~ Lou Holtz
The difference between Gen Z and the Boomers?
Drop the mic.
Fast Eddie says:
October 8, 2023 at 3:43 pm
“People ask me what the difference is between athletes today and 40 years ago — today everybody wants to talk about their rights and privileges, and 40 years ago we talked about our obligations and responsibilities.” ~ Lou Holtz
The difference between Gen Z and the Boomers?
Rocky balboa. I use it continuously to motivate me to be better and better. The Few! Drive, work ethic, guts, and sacrifice are all the keys to beating the rest in a capitalist system.
Stock futures down over 200 points, tomorrow could be a blood bath. Oil futures up jump 5%. Prepare for the worst and hope for the best.