The Census Bureau reports New Home Sales in May were at a seasonally adjusted annual rate (SAAR) of 676 thousand.…
Continue ReadingWhat are 10-Year T-Note Options on Futures?
Among the most actively-traded options on futures products are 10-Year T-Note futures options. Derivative of 10-Year Treasury Notes, these options…
Continue ReadingExtremes in Sentiment Mean Extreme Bullishness
When I’m prioritizing information to help me understand the broad market environment, I tend to consider this as the order…
Continue ReadingTuesday: New Home Sales
From Matthew Graham at Mortgage News Daily: Mortgage Rates Hold Ground Near Lows. Can it Continue? Mortgage rates held their…
Continue ReadingThe Market Will Not Go Down Unless…
The market will not go down unless… The death rate from COVID-19 spikes – not simply the number of cases.…
Continue ReadingJune 22 COVID-19 Test Results, Highest Percent Positive since Late May
Note: I started posting this graph when the US was doing a few thousand tests per day. Clearly the US…
Continue ReadingA Small Update on the Giants
The big five just crossed $6 trillion in market cap for the first time ever. In the past I would…
Continue ReadingMBA Survey: “Share of Mortgage Loans in Forbearance Decreases for First Time in Series to 8.48%” of Portfolio Volume
Note: To put these numbers in perspective, the MBA notes “For the week of March 2, only 0.25% of all…
Continue ReadingComments on May Existing Home Sales
Earlier: NAR: Existing-Home Sales Decreased to 3.91 million in May, Rebound Expected in Coming Months A few key points: 1)…
Continue ReadingBlack Knight: National Mortgage Delinquency Rate Increased Sharply in May, Highest Rate since 2011
Note: Loans in forbearance are counted as delinquent in this survey, but these loans are not reported as delinquent to…
Continue Reading