Housing Market Crash Has 'No Floor in Sight,' and Prices Could Sink 20%
"Eight straight declines in sales and no floor in sight," Pantheon chief economist Ian Shepherdson wrote in a note on Thursday.
Source: businessinsider.com
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US Tells OPEC the Russian Oil Price Cap Won't Target the Cartel: Report
A US official also told Reuters that the proposed cap on Russian oil isn't the beginning of a buyers' cartel meant to counter OPEC.
Source: businessinsider.com
Mortgage Applications Hit Lowest Since 1997 As 30-Year Rate Nears 7%
While total volume fell, the share of adjustable rate mortgages rose to 12.8% of all applications, the highest since March 2008.
Source: businessinsider.com
US Economy Will Enter a Mild Recession in Q2 2023, Fitch Says
The aggregate household balance sheet remains resilient as real estate wealth helps offset some stock losses, Fitch said.
Source: businessinsider.com
Goldman Sachs Q3 Earnings Beat Estimates As Volatility Lifts Trading
Fixed income trading jumped 41% to $3.53 billion, but stock trading slipped 14% to $2.68 billion. Both figures also topped Wall Street estimates.
Source: businessinsider.com