It would appear that yet another prediction made by Chris and Saied has proven itself true: The bond and treasury markets would start moving and put upward pressure on the 30-year mortgage rate. According to a headline from CNBC, mortgage demand from homebuyers has fallen 29% since last year, as interest rates surge past 6%. Application volume dropped 1.2% last week compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index.
In today's episode of The Higher Standard, Chris and Saied discuss this data as well as Jerome Powell and the Fed's desire to be as communicative as possible as we approach a likely 75 basis point increase.
They talk about Cineworld's reported decision to file for chapter 11 'reorg' to address a potential liquidity crunch, restructure more than $5 billion of debt and resolve a $950 million adverse court judgement. Chris also explains the difference between a reorg and a standard bankruptcy procedure.
Chris and Saied look at Amazon's decision to reduce the size of its sprawling delivery operation amid slowing sales growth, by abandoning dozens of existing and planned facilities around the US.
They also explore Bank of America's new loan program created for Black and Hispanic neighborhoods to boost homeownership where it lags. The result was a PR disaster that had some pundits claiming it was 'racist,' while others say the media misconstrued the intent. Either way, it's a mess.
This is a show you do not want to miss! Join Chris and Saied for this fascinating conversation.
What You’ll Learn in this Show:
The difference between a chapter 11 reorganization and a standard bankruptcy procedure as it applies to business.
Why Amazon is abandoning dozens of existing and planned delivery facilities around the US.
The PR confusion surrounding Bank of America's new loan program created for Black and Hispanic neighborhoods to boost homeownership.