Lehman

Mortgage "Refi Boom" Crashes To Lehman Lows

While mortgage applications tumbled across the two-week holiday period - even seasonally-adjusted - it was the complete collapse in the refinancings that is most notable. Down over 60% since August, the refi index crashed over 22% over the xmas/new year period to its lowest since the post-Lehman collapse in Oct 2008.

Do Central Bankers Know A Bubble When They See One?

In spite of being exposed in what is either a self-exculpating lie (the claim that bubbles can only be seen after they burst) or a sign of gross incompetence (the failure to see two of the largest financial bubbles in history), no Fed official has ever been asked to explain or rationalize the Fed’s contradictory positions on bubbles.

US Home Prices Hit A Record High In October - What Happens Next?

US home prices have never been higher according to October's Case-Shiller data - surpassing July 2006's peak. The 5.1% YoY rise was slightly better than expected, but, with mortgage applications at Lehman lows and mortgage rates spiking to near 3-year highs since this data, the question is - what happens next?

Dave Collum's 2016 Year In Review - "And Then Things Got Really Weird..."

"Markets don’t have a purpose any more - they just reflect whatever central planners want them to. Why wouldn’t it lead to the biggest collapse? My strategy doesn’t require that I’m right about the likelihood of that scenario. Logic dictates to me that it’s inevitable..."