GOT A LOWER RATE
Through 9/30/20, 65% of the mortgages that were originated in the United states TYD were refis of existing mortgages. (Source: Inside Mortgage Finance)
IS IT A BUBBLE?
The US stock market was worth $42.6 trillion as of the close of trading on 1/22/21, 2.0 times the size of our $21.2 trillion economy. At the peak of the dot-com stock bubble in March 2000, the US stock market was worth 1.4 times the size of the US economy. (Source: Fund Manager Julien Bittel)
RED AND BLUE PROBLEM
The national debt increased +86% during George W. Bush’s 8 years as president, reaching $10.63 trillion as of 1/20/09. The national debt increased +88% during Barack Obama’s 8 years as president, reaching $19.95 trillion as of 1/20/17. And finally, the national debt increased +39% during Donald Trump’s 4 years in the White House, reaching $27.75 trillion as of 1/20/21. (Source: Treasury Department)
When Joe Biden was sworn in as a US Senator from the state of Delaware on 1/05/1973, he was the 5th youngest senator (age 30) in US history. When Joe Biden was sworn in as POTUS #46 on 1/20/21, he was the oldest president (age 78) to be inaugurated in US history. (Source: Politico.com)