Below is a fascinating look at silver, commodities and real estate.
Pending Home Sales Remain Collapsed
October 30 (King World News) – Peter Boockvar: With the average 30 yr mortgage rate in September falling all the way down to about 6.15% (now back to 6.73%), the lowest in a year and a half, home buyers stepped up according to the National Association of Realtors in today’s pending home sales figure which rose 7.4% m/o/m, well above the estimate of 1.9%. Sales were up 2.2% y/o/y.
Bottom line, after a 50% rise in the price of the average home over the past four years combined with a more than doubling in mortgage rates during this time, slight movements in rates really move the needle in terms of affordability right now and I believe the September data reflects that with the lift in home sales and I’d think that October would see a reversal of some of that with the rate jump.
The chart below only goes back to 2001 but you can see the extent at which existing home sale transactions are depressed and are at a similar pace seen in the mid 1990’s.
Silver
Graddhy out of Sweden: Been saying the $26.50 level was already backtested twice, so no need to go there again. And as expected, silver broke out above $32.77. Should have further to go in this weekly cycle. Do not miss it.
Silver Surge Has A Lot More Upside!
Yet Another Gold Bull Catalyst
Graddhy out of Sweden: This chart means that this lifetime commodities bull market opportunity, is about to once again go into overdrive.
Canada’s Venture Exchange (Junior Exploration & Commodity Companies) Set To Skyrocket vs CRB (Commodities)
The chart means that very good times are coming for commodities. This ratio chart caught all previous big up-moves. And now, it has a breakout to the upside again.
This chart also shows how historically undervalued small/mid sized commodities companies (TSX-V) are vs the commodities index CRB. Think e.g. GDXJ vs gold, SILJ vs silver, and URNJ vs SPUT.
Need to make the most out of this glorious commodities bull. For Heaven’s sake really, do not miss these historical up-moves.
Gold & Silver!
To listen to James Turk discuss how fortunes will be made in this gold bull market CLICK HERE OR ON THE IMAGE BELOW.
Gold & Silver!
To listen to Alasdair Macleod’s KWN audio interview that was just released CLICK HERE OR ON THE IMAGE BELOW.
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