Written by Robert Talas, Owner of The Talas Report Blog
Hello, this is Robert Talas, and welcome to my Mid-Week round Up. This week, I have gathered some interesting articles that I believe will be of interest to you. Here are the summaries and takeaways from each article:
- Don’t be fooled: Huge one-day stock rallies are more common in bear markets 1
The article highlights that one-day stock rallies are more common in bear markets than in bull markets. It also notes that these rallies are often short-lived and can be followed by further declines in the market. The article provides some examples of one-day rallies that occurred during the 2008 financial crisis.
Takeaways:
- One-day stock rallies are more common in bear markets than in bull markets.
- These rallies are often short-lived and can be followed by further declines in the market.
- Mortgage application volume falls 1.2% as rates rise 2
According to the article, mortgage application volume fell by 1.2% last week as mortgage rates rose. The decline was driven by a drop in refinancing activity, which fell by 3%. The article also notes that purchase applications increased by 1% last week.
Takeaways:
- Mortgage application volume fell by 1.2% last week as mortgage rates rose.
- The decline was driven by a drop in refinancing activity, which fell by 3%.
- More mortgage banker origination losses predicted 3
The article reports that mortgage bankers are expected to report more losses in the coming quarters due to a decline in refinancing activity. It explains that the decline in refinancing activity is due to rising mortgage rates. The article also notes that the decline in refinancing activity is expected to continue in the coming months.
Takeaways:
- Mortgage bankers are expected to report more losses in the coming quarters due to a decline in refinancing activity.
- The decline in refinancing activity is due to rising mortgage rates.
- Is the housing market finally turning a corner? 4
This article reports that the housing market may be turning a corner after months of declining sales. The article explains that home prices are stabilizing, and inventory is starting to increase. The article also notes that the increase in inventory is due to a slowdown in sales, which has led to more homes being listed on the market.
Takeaways:
- The housing market may be turning a corner after months of declining sales.
- Home prices are stabilizing, and inventory is starting to increase.
I hope you found these articles informative. For more real estate and market industry news, please visit the sources listed below.
References: 1: https://www.marketwatch.com/story/dont-be-fooled-huge-one-day-stock-rallies-are-more-common-in-bear-markets-21ddf406?mod=home-page 2: https://www.mortgagenewsdaily.com/news/11152023-mortgage-application-volume 3: https://www.nationalmortgagenews.com/news/more-mortgage-banker-origination-losses-predicted 4: https://www.housingwire.com/articles/is-the-housing-market-finally-turning-a-corner-altos/