😱 Spring Buyers Stunned: The 7% Rate Reality Check

7% interest rates cause chaos in spring home buying season. Learn how this impacts your investing strategy.

With rates rocketing back up to a dizzying 7%. Spring home buyers are dropping like flies, sending purchase applications into a nose-dive.

Investors are fleeing the housing market faster than a cat from a cucumber. But can you blame them?

Refinancing? Yeah, that's gone the way of the dodo bird, leading to a sloppy cascade of pink slips across the mortgage industry.

You'd think someone might have seen that iceberg before we hit it.

In this edition of the AltReports:

😬 Mortgage Mayhem

🤖 AI Job-Snatcher

🚀 339,000 New Jobs

📉 CRE Shakedown

🏗️ From Hotels to Homes

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That was Fast: Mortgage Rates Re-Spike to 7%

Mortgage rates soared back up to 7%. This has turned the spring selling season into a spectacular flop, with purchase applications diving to the third-lowest since '95. 

The housing market's losing its appeal with investors pulling out big time. 

As for refinancing, it's all but vanished, leading to a messy wave of layoffs in the mortgage industry.

Labor Market Added Staggering 339,000 Jobs Last Month

Despite a tsunami of layoffs, employment rates are on a surprise upswing with 339k jobs added in May.

Meanwhile, the unemployment rate rose to 3.7% - totally boggling the economists.

The culprit? The government's Dr. Jekyll and Mr. Hyde surveys that count jobs and job-holders differently.

Commercial Real Estate Faces a Shakeout

"Shark Tank" star Kevin O'Leary warns of a big shake-up in the commercial real estate market. 

Pointing at higher borrowing costs and a post-pandemic dislike for cubicle life as the main culprits.