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[ad_1] Tuesday, the new home sales report for March came in as a miss of estimates at 763,000, but the revisions were all positive, which shows that the housing data is still lagging behind the current market reality. That data shows how housing was still on pace to have another solid year before mortgage rates got over 5%. The most recent housing starts data on permits and starts side of the equation was fine this month, but it also lagged the current rates environment. The housing world is much different at 5% plus mortgage rates versus the 3% mortgage world we had last year. Housing data should cool off, and we are getting into the period where some forward-looking data reflects that. The new home sales market doesn’t have a 28% cash-buyer profile as we saw in the last existing home sales report. So, while cash buyers as a percent of sales have been growing, this sector is driven by mortgage buyers primarily. From Census:Sales of new single‐family houses in March 2022 were at a seasonally adjusted annual rate of 763,000, according to estimates released today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 8.6 percent (±12.9 percent)* below the revised February rate of 835,000 and is 12.6 percent (±11.3 percent) below the March 2021 estimate of 873,000. As we can see below, the uptrend in sales is still intact, so housing starts have held up OK. Even though multifamily construction has boosted housing starts recently, the slowdown in single-family purchases hasn’t been anything too dramatic yet. However, as rates move up, mortgage buyers of new homes will feel the pinch as new homes are always more expensive than existing homes in an apples-to-apples comparison. The one thing housing has going for it now is that we don’t have the speculative booming demand as we saw from 2002 to 2005.  From Census: The median sales price of new houses sold in March 2022 was $436,700. The average sales price was $523,900.  Sticking with the theme of this year: the housing market is savagely unhealthy for both existing homes and new homes. The builders have pricing power and they — along with home sellers — have pushed it very hard since 2020. They were simply doing what the marketplace allowed them to do with low inventory and low mortgage rates. The builders have to deal with an overhang of unbuilt homes, unlike the existing home sales market. For the rest of the year, we will see how much damage 5%+ mortgage rates have done with regard to cancelations. Builders have to find buyers for canceled homes, then think about their demand. The builders are always mindful of higher rates. From Census:For Sale Inventory and Months’ Supply: The seasonally‐adjusted estimate of new houses for sale at the end of March was 407,000. This represents a supply of 6.4 months at the current sales rate. My rule of thumb for anticipating builder behavior is based on the three-month average of supply: When supply is 4.3 months, and below, this is an excellent market for the builders. When supply is 4.4 to 6.4 months, this is just an OK market for the builders. They will build as long as new home sales are growing. When supply is 6.5 months and above, the builders will pull back on construction. Because the previous new home sales data was revised positively, the three-month average monthly supply is at 5.9 months. March’s headline number showed 6.4 months of supply. This is something I am keeping an eye on because two of my last three recession red flags have to do with new home sales and housing starts directly. So, went monthly supply spikes, the builders will pull back. Single-family starts aren’t doing much right now, but multifamily construction is doing well.  More weakness in new home sales will force the builders to pull back on construction of new homes on the single-family side. A good way to track the builders is through the National Association of Home Builders/Wells Fargo Housing Market Index (HMI), and you can see below that this year’s decline is more accurate than what we saw last year. Last year, COVID-19 created a demand surge, giving this index an unrealistic high level to work from. However, we don’t have that anymore, so the recent weakness in the builder’s confidence is legit. From NAHB: All in all, the new home sales report wasn’t bad because of the positive revisions, but to me, like other housing data, it’s lagging behind the reality of the world we live in today. Mortgage rates have spiked faster than usual, and some of the data we have been reporting on hasn’t had the duration impact of higher rates. So, going ahead, we will see the real impact of higher rates. We have seen the MBA purchase application data show weakness this year, but nothing too dramatic yet. In 2014 we had a 20% year-over-year decline trend. In 2018, we had three mild negative year-over-year prints. Currently, the four-week average is showing a -9.75% year-over-year decline. It will be prudent to keep an eye out on the year-over-year data trends more than the week-to-week data. Going forward, I will keep a close eye on the builders to see if they will be cutting back on housing construction as new home sales fall. This by itself will raise a recession red flag. One thing to remember, the last two times rates rose and the builders got impacted, rates, later on, fell to help the builders out. If bond yields and mortgage rates fall more noticeably, the builders should have a more positive outlook. This isn’t the case now, but it’s something to look at if economic growth gets weaker. The post March new home sales: the last positive revision for 2022? appeared first on HousingWire. [ad_2] Source link

[ad_1] I’m going to invest in cryptocurrencies, but I’m not sure what’s the best way to store my coins to protect against theft and other risks. What should I look for in a crypto wallet? What makes a wallet “good”?—Anand Great question, Anand. First, let’s clear something up: A crypto wallet doesn’t store coins—your coins will always be in the blockchains where they were created. Your wallet stores the private keys—very long, randomly generated strings of numbers and letters—that allow you to find your coins in the blockchains. It’s common to hear people say they’re storing crypto in a wallet, though, so we’ll do the same.  Protecting your keys is essential to safeguarding your cryptocurrency. For that, let’s look at hot wallets and cold wallets. What’s the difference between hot vs. cold wallets? Hot wallets are digital wallets that are connected to the internet, such as crypto platform wallets and browser wallets. You can use hot wallets to send and receive crypto and store your private keys short-term. They’re not recommended for long-term storage. Because hot wallets are always connected to the internet, they’re susceptible to hacks. For the same reason, it’s a good idea to keep only a small amount of crypto assets in a hot wallet.  Cold wallets, also called cold storage, are held offline. They include digital wallets stored on devices that aren’t connected to the internet (hardware wallets), as well as paper wallets—hard-copy documents that list your public and private keys. Cold wallets are more secure than hot wallets, but they don’t give you quick access to your coins—and it’s up to you to protect them from loss or theft.  Canadians can buy and sell crypto on CoinSmart* Go to Site How should you divide your crypto between wallets?  Once you have both hot and cold wallets, you will want to split your crypto into portions depending on what you plan to do with it. Keep the majority of your coins (75% or more) in your cold wallet if you want to be a long-term holder. Keep the rest in a safe hot wallet (like MetaMask) so that you can actively trade them or convert them into fiat currency when you need some cash. What’s the best wallet for storing crypto?  To keep your crypto safe, the best option is a hardware wallet like a Trezor or a Ledger Nano. These wallets offer you the best of both worlds: Not only do they keep your keys offline, but they can also be plugged into your computer for quick access to your coins. Several decentralized finance (DeFi) apps allow you to log in with your hardware wallet, making the entire process very simple.  Having said that, you must take good care of your seed phrase—the list of 12 to 24 words that you’ll need to access the crypto in your wallet, and to recover access if your hardware wallet is lost or damaged. If you lose your seed phrase (also known as a recovery phrase or mnemonic phrase), you’ll lose access to your coins.  Tips for protecting your seed phrase To protect your seed phrase, keep it offline (not on your phone, computer or other internet-connected device), and store it using these tactics: Seed splitting: Divide your seed phrase into parts and store them separately and securely in different locations—for example, a safe, a second spot in your home or another location, or a safe deposit box at a bank.  Hardware drive: Save your seed phrase to one or more hardware drives or USB sticks and store them securely.   Metal capsule: Keep your seed phrase in a purpose-built capsule, such as the waterproof, fireproof models made by Cryptosteel. Hard copy: Print or write out your seed phrase on paper (split two or three ways, as noted above), using fade-proof ink or toner. Laminate the paper to protect it from moisture and other damage. Don’t store your seed phrase in a password manager or take a photo of it—someone could gain access through your phone or your cloud storage accounts.  As you can see, Anand, crypto investors need to play an active role in managing risks and keeping their holdings secure. One final tip: Find out if your cryptocurrency trading platform keeps customers’ crypto in cold storage. At CoinSmart, we provide cold storage for each cryptocurrency we offer, protected with standard industry practices and procedures, for added security. Steven Kraft is a cryptocurrency and blockchain expert who leads operations at CoinSmart, a Canadian cryptocurrency trading platform. Sign up for an account* with the code money30 and receive C$30 in bitcoin when you deposit a minimum of C$100.  Have a question? Ask a crypto expert SEND EMAIL Read more about crypto: How long should you hold a cryptocurrency investment? How to buy Avalanche (AVAX) in Canada How to buy Solana (SOL) in Canada What does the * mean? If a link has an asterisk (*) at the end of it, that means it’s an affiliate link and can sometimes result in a payment to MoneySense (owned by Ratehub Inc.) which helps our website stay free to our users. It’s important to note that our editorial content will never be impacted by these links. We are committed to looking at all available products in the market, and where a product ranks in our article or whether or not it’s included in the first place is never driven by compensation. For more details read our MoneySense Monetization policy . The post What’s the best type of crypto wallet? appeared first on MoneySense. [ad_2] Source link

[ad_1] Stop by McDonald’s for a great deal on McNuggets today! Today only, McDonald’s is offering a 6-Piece Chicken McNuggets for just $1! Just look for this offer in your app under “Deals”. Valid today only, April 27, 2022. Thanks, Hip2Save! [ad_2] Source link

[ad_1] ADP Earnings, Revenue Beat in Q3 [ad_2] Source link

[ad_1] Be it local conditions or the ever-worsening climate crisis, India is witnessing one of the hottest April this year. From the National Capital Delhi to Maharashtra, heatwave is sweeping the country with regions witnessing sharp increase in weather-related diseases. This year, India experienced its first episode of heatwave in March when the temperature rose sharply between March 11 and March 19. Second spell of heatwave began on March 27 and ended somewhere around April 2nd. The experts say that there will be no respite from the rising temperature until the first week of May. Here are top five heatwave-related updates that you should know: 1: The latest update from the IMD spells tough days for people of Delhi-NCR. In the next 48 to 72 hours, the National Capital will see the temperature crossing to 40 degrees-mark. The current forecast says that Delhi will experience extreme heatwaves with temperature hovering somewhere between 42 to 44 degree Celsius. With the current conditions prevailing, the national Capital may break the 1941 record of highest temperature for the month of April. That year, Delhi saw mercury hitting 45.6 degrees. Weatherman predicts a temperature hitting 46 degrees by April end. 2: In West Bengal, a heatwave alert has been issued for seven districts. Chief Minister Mamata Banerjee is set to chair a key meeting today. The Bengal government is thinking about declaring early summer vacation for educational institutions to save children from sweltering heat. Another agenda in the meeting would be the situation of groundwater in the state. Neighbouring Bihar is also reeling under the extreme weather conditions. 3: Maharashtra is among the worst-hit regions with Vidarbha and Marathwada experiencing scorching temperatures. Latest analysis of temperatures across India show that Vidarbha has been the hottest region in the country this year. In the last 60 days, Maharashtra has witnessed 4 spells of severe heatwave. 4: This year, the Indian summer has been unusually warm with early onset of heatwave conditions affecting much colder regions such as Jammu and Kashmir and Himachal Pradesh. 5: A heatwave alert is issued by the IMD when mercury crosses 40 degrees in plains; 37 degrees in coastal areas and 35 degrees Celsius in hilly regions. Another factor – in case a region experiences a temperature which is 4 to 5 degrees above normal, that is also considered a situation for a heatwave alert. [ad_2] Source link

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[ad_1] Russia halts gas supplies to Poland, Bulgaria [ad_2] Source link

[ad_1] Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic equity market benchmarks BSE Sensex and Nifty 50 were trading with losses on Wednesday, a day before weekly F&O expiry, which also happens to be monthly F&O expiry. BSE Sensex was ruling below 57000-mark, while NSE Nifty 50 gave up 17100 levels. Only Reliance Industries and HDFC Bank stocks were trading in the green, remaining 28 stocks of 30 BSE Sensex stocks were trading with losses. RIL share price crossed another record high on Wednesday with the stock touching Rs 2827.10 a piece for the first time. The market cap also crossed Rs 19 lakh crore for the first time. Bajaj Finance, Bajaj Finserv, UltraTech Cement, M&M, Infosys, Larsen & Toubro (L&T), Maruti Suzuki were among top index draggers. Bank Nifty was down by 0.8 per cent, while Nifty Auto, and Nifty Financial Services were down 1% each. [ad_2] Source link

[ad_1] If you’re looking for a new patio set, don’t miss this HOT deal! You can get this 5-Piece Modular Wicker Sectional Conversation Set with Two Pillows & Coffee Table for just $399.99 shipped when you use the promo code BCP5PC at checkout! An inviting addition to any outdoor space, this 5-piece set is perfect for hosting friends and family for an afternoon on the patio, balcony, garden, poolside, and more. All included pieces can be set up in a variety of ways. Valid through May 2, 2022, while supplies last. [ad_2] Source link

[ad_1] High prices boost Mercedes-Benz earnings, warns of cloudy outlook [ad_2] Source link