New Listings and Inventory Update

Here are this week’s New Listings and the latest Inventory:

Click on these links for details: (more…)

Essex County Mid-Year Market Summary in 5 slides


And read these recent articles: (more…)

Open Houses Sunday July 24

Here are today’s Open Houses:

Click on these links for details: (more…)

Has Inflation Peaked?

After I published Have Mortgage Rates peaked? last week a reader asked me why I thought the yield on the 10-year Treasury Bill would not continue to increase, so that even if the spread over the 30-year Fixed Rate Mortgage (FRM) narrowed, the FRM rate itself might still increase.

In Are we already in a Recession?, published on June 18, I wrote: “Just as the yield on 10T has more than doubled since pre-COVID while the Fed Funds rate is unchanged, so the Fed Funds rate can increase sharply – the Fed is forecasting it will reach 3.4% this year, also double its pre-COVID level – without necessarily impacting the yield on 10T. That will depend upon the economic outlook. Ironically, perhaps, the more determined the Fed is to drive down inflation – even at the cost of a recession and higher unemployment – the greater the chance that the yield on 10T – and by extension the FRM – will decline – at some point.”

In the last few days, as more economists talked about a recession after the Atlantic Fed updated its Q2 GDP estimate to minus 2.1% (it was 0% when I wrote on June 18), the yield on 10T has dropped sharply, falling to 2.9% from a peak of 3.5% in the middle of May: (more…)

Are we already in a Recession?

In January this year I published an article asking Can the Federal Reserve prevent a Recession?

My question now is: Are we already in a Recession?

I think the answer is yes. Here is the evidence, in three charts: (more…)

Marblehead Facts and Figures Weekly Update

 

Open Houses June 4/5

Here are this weekend’s Open Houses (an updated list will be published tomorrow at 8 a.m.):

Click on these links for details: (more…)

Marblehead Neck Oceanfront Open House TODAY

It has been 9 months since the last oceanfront house on Ocean Avenue sold and now comes this Wonderful opportunity to enjoy Marblehead living at its finest. There is one Open House today from 11:30 -1:00.

This spacious and gracious home sits on a bluff with sweeping views directly out over the ocean. Built in 1920, the home retains much of its original charm, period details and architectural elegance, yet offers many recent updates providing for luxurious living for today’s discriminating buyer.

(more…)