Russian Diesel, 7.4% Mortgages, and Foreclosures Up 50%

Freddie Mac's 30-year average rate rose to 7.4% last week, up from 6.3% a year ago, which Jerremy Alexander Newsome says adds $294 a month on a $400,000 loan. He and Dave Conley start with Russia, which is about to sell America diesel, with a first load that covers less than two hours of the world's demand. Jerremy says SpaceX buying airwaves sent the three biggest phone companies down as much as 13% by close, then walks the charts on Walmart, Dollar General and Nike, down 80% from its highs. Dave puts the 10-year at 5.24% and argues the Fed has to find new tools for supply-side inflation. Jerremy says foreclosures are up about 50% from last year and sees openings for buyers with cash.

Timestamps:

• (00:00) Flash floods hit Las Vegas – three feet of water downtown
• (01:26) Russia sells America diesel – first load covers under two hours of demand
• (02:45) Friendly but not friends – Dave on buying from countries we dislike
• (03:41) "After the midterms" – the administration's answer on fuel prices
• (04:03) SpaceX buys airwaves – phone carriers fall as much as 13%
• (04:43) American Tower up 15% – while AT&T and Verizon get scorched
• (05:10) $245 a month – what Jerremy pays for three phone lines
• (06:54) Walmart and Dollar General – discount brands in a squeezed consumer market
• (09:35) Nike down 80% – and why Ferrari is a different story
• (11:14) The 10-year at 5.24% – Dave on oil, the Fed and supply-side inflation
• (13:25) Mortgage rates hit 7.4% – $294 more a month on $400,000
• (14:06) 90% of early payments – go to interest, not principal
• (17:01) Foreclosures up 50% – Jerremy sees openings for buyers with cash
• (17:36) Collars and stop losses – Dave on protecting your downside

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