by pentoport | Aug 31, 2023 | Commentary
August 31, 2023 The average interest rate for a 30-year fixed-rate conforming mortgage loan has soared to 7.31%. That means borrowing costs are now at the highest level in 23 years, which has caused the demand for purchases to plunge to the lowest level in 28 years....
by pentoport | Jul 28, 2023 | Commentary
July 28, 2023 Bond Market’s Mirror Image According to the Congressional Budget Office, the U.S. government posted a $225 billion budget deficit for June, up 156% from a year earlier. This means, the first nine months of fiscal 2023 showed a deficit of $1.4...
by pentoport | Jun 15, 2023 | Commentary
June 15, 2023 The Bank of Canada paused its rate hiking cycle in January but then hiked rates at its last meeting. The Royal Bank of Australia paused in April but then had to start hiking again in June. The Fed also paused at its June meeting or at least skipped a...
by pentoport | May 4, 2023 | Commentary
May 4, 2023 At his May FOMC press conference, Mr. Powell tried his hand at stand-up comedy by saying “banking conditions have broadly improved since March.” Could it really be possible that he can be so blind to what is actually happening within the...
by pentoport | Apr 28, 2023 | Commentary
April 26, 2023 First Quarter GDP increased at only a 1.1% seasonally adjusted annual rate. That was down from 2.6% in Q4 of last year, which was down from 3.2% during Q3. Despite the clear slowdown in economic growth, there still exists a battle between Wall...
by pentoport | Apr 17, 2023 | Commentary
April 17, 2023 The debt-disabled U.S. economy cannot withstand the surge in borrowing costs, and the reduction in money supply growth necessary to combat the record-high inflation suffered over the past few years. Our beloved U.S. Treasury Secretary Janet Yellen said...
