Home Investing and Finance US Mortgage Charges At 7.20% As US Yield Curve 10YR-3MO Inverts (M2...

US Mortgage Charges At 7.20% As US Yield Curve 10YR-3MO Inverts (M2 Cash YoY Lowest Since 2010) – Funding Watch

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by confoundedinterest17

As the midterm elections get close, the news for Americans gets worse.

On the housing/mortgage front, Bankrate’s 30-year mortgage rate (yellow line) just hit 7.20%, the highest since 2000. Also, the US Treasury 10yr-3mo yield curve (white line) inverted, historically a precursor to recession, before barely climbing back above 0%.

Meanwhile, M2 Money growth has collapsed to the lowest level since 2010.

US GDP numbers are due out at 8:30AM EST for Q3. The numbers are expected to show slow growth (around 2.4%) with rapid inflation (5.3%). While the GDP numbers are better than Q2’s numbers, they are still pretty lousy.

 

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