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Rates

Rates climbed a lot since Covid. During Covid I was getting measly savings rate.
Eventually when rates go down, we will have a refi boom.
 
Fernando said:
Rates climbed a lot since Covid. During Covid I was getting measly savings rate.
Eventually when rates go down, we will have a refi boom.
Click to expand...
...as Markets rally worldwide based upon the reemergence of the Feekless Forecaster Fernando...
 
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Four consecutive weeks out of the wedge.
 
The funny thing about the level of the rates is that there is so much focus on it's impact on demand. We know what happens when rates move higher into a new range, and it is the lock-in effect.

These are some things we might see if mortgage rates are up towards 8% next year based on observations from 2022.

1) Significant decline in existing home inventory, at least for single-family homes, and possibly even for condos.
2) Fewer buyers due to fewer number of move up buyers (sellers).
3) Increased demand for exurb new construction.

This is probably going to be the driving force in residential real estate for decades.
 
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If you are looking for a trade for the next 12-24 months, you could do worse than ITB.
 
Just bought a 100 pack of the new $1 DT gold coins for $160. They're going for $5 each on ebay. I should be able to retire once I've offloaded these beauties.
 
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