Nationwide mortgage rates are currently sitting at 6.24%. That's not a rate that make people dump their 3% mortgages for.
Equity sentiment vs returns for the S&P 500 couldn't be further apart than it is right now.
This can't go on forever, before it blows up in their faces...
Since Covid, my gosh, the rise in money market funds has been parabolic.
Could be a good pick-me-upper for stocks like D.R. Horton (DHI)Â and Lennar (LEN).
Some decline in the mortgage rates starting to emerge here.
Fed allowed another $30B to run off its balance sheet this month.
If this were a stock chart, I'd be gearing up for a breakout.
The US Treasury are engaged in their own form of QE now, in the form of a 4B buyback this morning.
Even with the expectations of possibly 3 rate cuts before the end of the year, mortgage rates have barely budged.