More News Showing Signs of Economic Weakening

Mortgage Demand

Mortgage rates have risen significantly in the last month, causing mortgage applications to purchase a home to drop 6% and applications to refinance a home loan to drop 6%. This has caused mortgage demand from homebuyers to indicate a slow spring is ahead.

What once drove the mortgage industry refinance, now account for less than a third of all applications. Presently refinancing mortgages lags by 70% vs last year’s pace. Couple this with a drop in mortgage applications and rising mortgage rates and you have yourself the beginnings of a good old recession.

Nvidia has filed a mixed shelf offering of up to $10 billion with the U.S. Securities and Exchange Commission, which includes shares of common stock, preferred stock, warrants, debt securities, and purchase contracts. Stock was down in aftermarket trading last night.

Futures have turned lower as we get closer to the open. More to come this morning.

Live Loud!

Trent

Live Loud!

Trent

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