Softer economic data out of Europe is helping European 10-year yields move sharply lower, which in turn is helping global yields moderate.

France is talking Quantitative Easing (QE), or in real English, buying bonds. Not just a few billion here and there, but a systematic plan to buy tens of billions of bonds to help lower interest rates.

Reminder: Quantitative Tightening (QT) is what central banks have been doing for the last four years, reducing their bond holdings to shrink their balance sheets.

Quick reminder from yesterday’s post: To keep the same monthly payment you would have had when rates were 6.25%, today’s home price would need to be about 12% lower than it was last March.

Example: a $500K home last March would need to sell for about $440K today to keep the payment the same.

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