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Bubble watch: Mortgage rates are soaring despite promises of mild uptick



Bubble watch: Mortgage rates are soaring despite promises of mild uptick

“Bubble Watch” digs into trends that may indicate economic and/or housing market troubles ahead.

Buzz: Despite promises of a smooth increase in home financing costs from the Federal Reserve — a prediction reinforced by so-called industry “experts” — we’ve just witnessed one of the largest hits to a house shopper’s buying power in history.

Source: My trusty spreadsheet’s analysis of Freddie Mac’s weekly report on average 30-year mortgage rates with a history going back a half-century. That history includes the insane double-digit rates of the early 1980s.

The Trend

Remember how cheap mortgage rates boost home “affordability” in the pandemic era?

Last week, that all-but ended. The average mortgage rate rose to 3.45% from 3.22% — a 0.23-percentage-point jump in seven days. That’s the highest rate since March 2020, just as the pandemic was icing the economy and the central bankers at the Fed began their bailout of the housing market.

But look what just a week’s increase did to a house hunter’s buying power.

Image you can afford a $2,500 monthly mortgage payment. Two weeks ago, you’d be lent $576,619 for that check. Last week, it’s down to $560,214. Or a 2.85% cut in buying power.

Sound small? Nope! It’s the 23rd largest percentage drop since 1971, bigger than 99% of all one-week periods.

House shoppers will have to borrow less or dig deeper into their household budgets for house payments. And sellers (and industry cheerleaders) should note this change.

The Dissection

Over the past year, the Fed assured financial markets (and anybody with a life tied to market gyrations, such as house shoppers) plenty of warning would be provided before they acted to increase the rates they control. Between cutting key rates — and acquiring a $1 trillion in home loans — the Fed had an active role in pushing mortgage to historic lows in the pandemic era — the Freddie Mac average hit .266% at the start of 2021.

Well, it seems that at least mortgage markets aren’t waiting for the Fed to act. Too many people fear rising inflation — biggest jump in the Consumer Price Index since the early 1980 — will quickly push all interest rates higher,

It’s not just one week. Over three weeks, this upsurge bumped mortgage rates up 0.4 percentage points from 2.95%. The $2,500-a-month mortgage payment way back 21 days ago got a borrower $589,198 — nearly $29,000 more than last week. So buying power is down 4.9% just since the last weeks of 2021 — the No. 35 largest drop since 1971, or bigger than 99% of all three-week periods.

And please take a long term-view. Over the past 52 weeks, rates are up 0.66 points from 2.79%. That means house hunters have 8% less to spend. Saying it’s the 451st largest drop in a 12-month period in the past half-century isn’t that impressive. Bit it’s bigger than 83% of all year-long periods.

Another view

For all you young kids out there — or those with failing financial memories — let me remind you of early 1980 when the Fed began squashing the economy with soaring rates to cool another rough patch of inflation.

Ponder a house hunter’s worst week in the last 50 years, in terms of buyer power: In the seven days ending March 14,1980, buying power was cut 8.6% as the average mortgage rate went to 15.4% from 14%.

Worst year? The 12 months ended April 4 and April 11 of 1980 when rates surged to 16.35% from 10.48% — cutting buying power by 33%. No typos, I said 16.35% rates and one-third less money lent!

How bubbly?

On a scale of zero bubbles (no bubble here) to five bubbles (five-alarm warning) … FOUR BUBBLES!

Yes, roughly speaking, a quarter-point rate bump on a mortgage to three-and-a-half percent doesn’t sound so bad. And, yes, on the historical scale 3.45% is still relative bargain rate.

Yet a large part of the arguments for decent 2022 for homeownership was that inflation would moderate and that mortgage rates would rise deliberately and modestly. And, remember, inflation is usually the byproduct of too much spending — an economic positive, in an odd way.

But what we’ve gotten in early 2022 is a huge reminder that while the Fed is a financial market powerhouse, it does not have absolute say in what interest rates do.

With mortgages rates, the mindset of bond traders are a big factor. If they don’t want mortgage-backed bonds — or can find better deals in other fixed-income niches — home-loan rates will likely rise.

Also, there’s how much a lender wants to make on a loan. If they’re focused on their mortgage-making volumes, borrowers benefit from price competition. If profit margins are more the key, rate bargains can become scarce.

OK, maybe the past three weeks were just a hiccup — an overly anxious reaction of mortgage forces to bad cost-of-living news. But when was the last time the national inflation rate — 7% in December — was above mortgage rates? (And inflation has topped mortgage rates since April.)

Oh, yes, that same 1980.

PS: California home prices rose 15% that year and 9% the next year before falling 5% in 1982. But if you factor in that era’s sky high cost-of-living surges, 1980 was a 1.5% price gain when inflation ran 13.5%; homes fell 1.5% in value in 1981 after 10.5% inflation; and fell another 11% in 1982 as inflation “dipped” to 6%.

Jonathan Lansner is business columnist for the Southern California News Group. He can be reached at [email protected]


Indian Bank Recruitment 2022: Bumper vacancies for these posts in Indian Bank, application process started, will get 90000 salary 



Bank Recruitment 2022: Golden chance to become manager in City Union Bank, apply soon, will get good salary, know selection & others details

Indian Bank Recruitment 2022: Bumper vacancies for these posts in Indian Bank, application process started, will get 90000 salary

Indian Bank Recruitment 2022: Vacancy has been removed for the posts of Specialist Officer in Indian Bank. Candidates can apply online by visiting the official website of Indian Bank.

New Delhi: There is a golden opportunity for the candidates who want to do government jobs in the bank. Vacancy has been issued by Indian Bank for the posts of Specialist Officers in various departments. Under this vacancy 312 posts of manager will be filled in the bank. The application process for these posts has started from 24th May. Candidates can apply online by visiting the official website of Indian Bank, The last date to apply has been fixed as 14 June 2022.

Maximum Age Limit

1. Assistant Manager – 20 to 30 Years
2. Manager – 23 to 35 Years
3. Senior Manager – 25 to 38 Years
4. Chief Manager – 27 to 40 Years

According to the government rules, three years relaxation will be given to the OBC category candidates and five years to the SC, ST category candidates in the upper age limit.

Educational Qualification

: Different educational qualifications have been decided by Indian Bank for the candidates applying for various posts. According to the posts, it is mandatory for the candidate to be CA, ICWA, Graduate, Post Graduate. Also, candidates applying for the post of manager should have 3 years experience, 5 years for senior manager posts and 7 years for chief manager posts. At the same time, experience is not required to apply for the post of Assistant Manager.

Application Fee

1. For SC, ST and Divyang candidates – Rs 175
2. For other category candidates – Rs 850

For other information related to this vacancy, candidates can get by clicking on the notification link given below.

The post Indian Bank Recruitment 2022: Bumper vacancies for these posts in Indian Bank, application process started, will get 90000 salary  appeared first on JK Breaking News.

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BMF Season 2 Release Date – Renewed or Cancelled? Updated Info!



BMF Season 2 Release Date – Renewed or Cancelled? Updated Info!

The popular television program BMF has aired for one season. The program has been broadcast on HBO and Cinemax. BMF is an acronym for “Black Mafia Family.”

BMF is inspired by the actual story of two brothers who, in the late 1980s, emerged from the deteriorating neighborhoods of southwest Detroit to form one of the most important criminal families in the United States. The charismatic leadership of Demetrius “Big Meech” Flenory, the commercial acumen of Terry “Southwest T” Flenory, and the brotherly partnership’s vision beyond the drug trade and into the realm of hip hop would make the brothers internationally renowned. Their unshakeable commitment to family loyalty would be the bedrock of their relationship and the catalyst for their eventual separation. In pursuit of the American ideal, this is a story of love, betrayal, and thug capitalism.

Randy Huggins produced the American crime drama television series BMF for HBO. After being unfairly imprisoned, three closest friends must rebuild their criminal enterprise from the inside out. Since its launch on November 14, 2016, the series has broadcast four seasons.

HBO renewed the drama for the second season in 2022.

Will BMF Return for Season 2?

Yes, BMF will return for a second season.

Four days after the premiere of the first episode of BMF on Starz, the program was renewed for a second season on September 30.

A high audience rating of 83 percent on Rotten Tomatoes indicates that the series has had a positive reaction. Additional episodes have been confirmed.

Even though no release date has been confirmed for season 2, it is anticipated that viewers will have to wait until the second half of 2022 to see the next episode of BMF.

BMF Season 2 Release Date:

The official release date of BMF season 2 Big Meech has yet to be disclosed, but the second season is set to premiere in September 2022, which is sooner than you may imagine.

In addition, it was revealed that the second season will have more episodes than the first, which contained eight episodes with a total length of 52 minutes.

The Cast Of BMF Season 2: 

  • Snoop Dogg portrays Pastor Swift
  • Steve Harris portrays Detective Bryant
  • Serayah portrays Lori Walker
  • La La Anthony portrays Markaisha Taylor
  • Eminem as White Boy Rick (Guest Starring)
  • Walnette Marie Santiago as Cecile aka Big L (Guest Starring)
  • Felisha Terrell as Commander Mars aka Commander Marceline ‘Mars’ Beckwith (Guest Starring)
  • Demetrius Flenory Jr. portrays Demetrius Flenory
  • Da’Vinchi portrays Terry Flenory
  • Myles Truitt portrays B-Mickie
  • Russell Hornsby portrays Charles Flenory
  • Michole Briana White portrays Lucille
  • Sydney Mitchell as LaWanda

Who portrays Da Vinci blue in BMF?

The true name of American rapper Bleu Davinci is Barima McKnight. The 43-year-old Los Angeles native has one daughter, Madisyn, and three boys, Xavier, Melaki, and Brandon. He shares his youngest kid, Xavier, with Love & Hip Hop Atlanta celebrity and hip-hop musician Keely Hill.

BMF Season 2 Plot:

The upcoming season is currently unknown, and there have been no firm updates from the show’s producers. Curtis Jackson, the program’s executive producer, intends to continue focusing on the two brothers and how they negotiate life and their careers in the second season since the show is strongly influenced by the real-life narrative of the two brothers.

It is anticipated to be considerably more engaging than Curtis Power and Power Book II. In a recent interview, Jeffery Hitch, president of Starz, expressed his eagerness to see Randy and Curtis and the other award-winning ensemble in the second season.

Official Trailer Of BMF Season 2:

This show’s second season will not have a trailer, which is unfortunate. Therefore, it is difficult to foretell what will occur. However, we will keep you informed if Starz publishes a trailer for this widely awaited season. While we await a trailer, prior seasons are available on Netflix.

Below is the first trailer for BMF Season 1:

Where Can I View BMF?

The first season of BMF is currently available on Hulu for watching. It seems probable that the second season of BMF will also be accessible on Hulu.

IMDB Ratings:

The first season of BMF has received 3,200 votes and an IMDb rating of 7.5 out of 10. Since the announcement of Season Two, the show’s popularity has climbed by 20 points, reaching a total of 1,321 points. Audience members awarded the show a Tomatometer score of 83% and a Rotten Tomatoes score of “Good”.

The post BMF Season 2 Release Date – Renewed or Cancelled? Updated Info! appeared first on AlphaNewsCall.

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Minnesotans make a difference as volunteer water monitors



Lowell Deede uses a Secchi tube to measure the clarity of the Straight River.

While walking Becker County roads, Lowell Deede got to wondering why the Buffalo River, west of Detroit Lakes, transformed from a beautiful, crystalline river “into a muddy, brown soup” a mere three weeks later.

“How did this change so drastically?” It got me to thinking maybe I can do something to help with that,” he recalled.

That was in 2015.

Deede, a retired wildlife biologist with the U.S. Fish and Wildlife Office, began volunteering for the Minnesota Pollution Control Agency (MPCA), collecting water samples and measuring water clarity. He shares the data with the MPCA.

Each spring, the MPCA kicks off its popular Volunteer Water Monitoring Program, which relies on Minnesota residents to help monitor lakes and streams.


For over 40 years, Minnesotans like Deede have gathered critically important data on the state’s 12,000-plus lakes and 92,000-plus streams.

The information helps the MPCA better understand the health of Minnesota’s waters and protect them for future generations.

Lauren Lewandowski, MPCA communications specialist, said they are currently recruiting volunteers to measure water clarity in numerous lakes and streams — including several high-priority sites in the Park Rapids area — and then report back to the agency.

“This is the perfect opportunity for outdoor enthusiasts and those interested in helping protect our state’s natural resources,” she said.


Through this program, volunteers do a simple water clarity test twice a month during the summer.

Lake monitors venture to a designated spot in the lake, while stream monitors record data from the streambank or a bridge over it.

The MPCA provides all the equipment and training. No prior experience is needed.

Lewandowski said, “Program volunteers come from all walks of life – from retirees and families to teachers with their classrooms and entire community groups. Anyone can be a volunteer.”

The MPCA analyzes the data to determine whether lakes and streams are meeting water quality standards designed to protect aquatic life and recreational activities, like fishing and swimming.

Lewandowski said, in some cases, the information gathered by volunteers is the only monitoring done on a particular lake or stream.

Lake monitors are asked to sample the water from May through September, while stream monitors typically begin in April.


Lowell Deede uses a Secchi tube to measure the clarity of the Straight River. (Shannon Geisen / Park Rapids Enterprise)

While working at the Tamarac National Wildlife Refuge, Deede had performed transparency sampling, so he was familiar with the process. He retired in 2015.

It’s a simple test, as he demonstrates.

On this day, Deede draws water from the Straight River with a five-gallon bucket while standing on a bridge above it.

He pours the water into a Secchi tube. He lowers a weighted disk attached to a string down the tube until it disappears. That distance, measured in centimeters, is the water clarity reading.

Lake monitors use a Secchi disk – an 8-inch, circular, all-white metal plate attached to a calibrated rope – and lower that into the water to take a reading.


According to the MPCA, water clarity is an important indicator of lake and stream health.

“It signifies the amount of algae or sediment in the water, which can affect plant, insect and fish communities and impact recreational opportunities. Long-term monitoring by volunteers can detect declines or improvement in quality of a lake or stream,” says the website (

For streams, a low clarity reading reflects excess sediment.

For lakes, a low clarity reading reflects excess algae.

Consistently low clarity readings indicate poor water quality and can affect plant, insect and fish communities, plus reduce recreational opportunities.

Long-term water clarity data collected by volunteer water monitors help detect signs of degradation to a lake or stream. It is generally easier and less expensive to restore a lake or stream if problems are detected early.


Like most of northern Minnesota, Becker and Hubbard counties have an abundance of surface water.

According to the Becker County Soil & Water Conservation District, its six major watersheds encompass nearly 500 lakes and countless wetlands.

Deede points out that Becker County is unique in that 15 named rivers flow out of the county, yet only one river flows in.

Hubbard County has three major watersheds: the Crow Wing River, Leech Lake and Mississippi headwaters.

Over the years, Deede observed varying water transparency, particularly after heavy rains.“There’s different levels of clarity. Some look really great, some look really muddy and not-so-great. I decided to do a pretty extensive sampling effort,” Deede said.

Lowell Deede, a volunteer water monitor for the Minnesota Pollution Control Agency (MPCA), uses a Secchi tube to measure the clarity of the Straight River, at the border of Hubbard and Becker counties, near Park Rapids, Minn. in May 2022. Looking down into the tube, volunteers lower a weighted disk attached to a string until the disk disappears. The distance at which the disk disappears is the water clarity reading, which is recorded in centimeters. A high Secchi tube reading reflects better water clarity. For over 40 years, Minnesotans like Deede have gathered critically important data on the state's 12,000-plus lakes and 92,000-plus streams for the Minnesota Pollution Control Agency. The information helps the MPCA better understand the health of Minnesota's waters and protect them for future generations. (Shannon Geisen / Park Rapids Enterprise)
Lowell Deede uses a Secchi tube to measure the clarity of the Straight River. Looking down into the tube, volunteers lower a weighted disk attached to a string until the disk disappears. The distance at which the disk disappears is the water clarity reading. (Shannon Geisen / Park Rapids Enterprise)

At first, Deede monitored 23 different sites. He sampled the Shell River, Straight River and Hay Creek, located on eastern edge of Becker County and adjacent to Hubbard County.

“It took me two-and-a-half days to do that, a couple hundred miles,” he said. “I don’t know anybody else that’s done that.”

Recently, he reduced his sampling to five or six sites.

As for Buffalo River’s muddy transition, Deede found the answer. His investigation revealed a six- to eight-foot gully along a county road, eroding directly into the river.

Without regular water clarity testing, the problem never would have been discovered, Deede said. It was brought to the attention of the Becker County Soil and Water Conservation District, and engineers designed a solution.

To join the volunteer program, visit

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