Look at this market seeing massive waterfall decline as other hit new highs as chaotic global trading continues.
Mortgage rates based on the 10-Year Treasury have been headed dramatically higher as bonds continue their waterfall decline (see crashing chart below).
Waterfall Decline In 10-Year Treasuries As Interest Rates Rise
This has led to soaring mortgage rates, which has literally shocked the real estate industry as sales are unwinding all over the United States because of the spike in interest rates. Look below at what has happened to mortgage rates. The illustration below is a real-time look at Wells Fargo’s today’s rates, which have soared on a 30-year conventional mortgage from 3.5% to 4.3875% in a matter of weeks!
Meanwhile the U.S. Dollar recently hit new multi-year highs…
U.S. Dollar Hits New Multi-Year Highs
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And the Dow Jones is at new highs…
Dow Jones Hits New All-Time Highs
The bottom line is that the world is set for much more chaotic trading as the year comes to an end and we head into what will be a wild west atmosphere in global markets in 2017. Just remember, no matter what hell breaks loose, gold will stand the test of time.
***On the heels of the recent brutal multi-week smash in the gold and silver markets, KWN has now released the powerful audio interview with Egon von Greyerz and you can listen to it by CLICKING HERE OR ON THE IMAGE BELOW.
***ALSO JUST RELEASED: Is This The Most Important Chart Of 2016? CLICK HERE.
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