Shaky Foundation for the Housing Trade? And Is the Market Rally Over? 3/23/22

CNBC's "Fast Money"

CNBC

Investing, News, Business

3.9 • 1.3K Ratings

🗓️ 23 March 2022

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

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Summary

Spiking mortgage rates, a plunge in refinancings and rising home prices all weighing on the housing market. What it means for the trades in the industry. Plus stocks took a big breather from their recent rally, closing near the lows of the session. Is there an even bigger pullback coming after the post-Fed strength? Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Transcript

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0:00.0	Welcome to the Nasdaq market side overlooking New York City's Times Square.
0:04.6	This is Fast Money.
0:05.6	I'm Alyssa Lee.
0:06.6	Tonight's Trader lineup.
0:07.6	Tim Seymour, Guy Dommie, Bono and Ison and Steve Grasso.
0:10.8	I head on fast stocks to finish at the blows of the day.
0:13.6	The major average is all down over a percent oil serving again with WTI back to nearly
0:18.6	115 of barrel.
0:20.2	The 10-year yield, the highest level since 2019.
0:23.3	How should you trade today's moves?
0:25.1	Plus, today marks two years since the market hit its pandemic bottom.
0:29.1	The S&B has basically doubled since then.
0:32.2	Some stocks have done even better, a little traded or faded on the names of some of the
0:36.2	biggest gains.
0:37.2	And later, cannabis combos, two multi-billion-dollar deals in the cannabis market of the CEO of
0:41.8	Cresco Labs will join us to talk about his move to buy Columbia Care.
0:46.1	We'd Wednesday here on Fast Money.
0:48.1	But we start off with troubling signs in the housing market, demand for refinancing
0:51.7	plunge.
0:52.7	14% in the latest week and new home sales unexpectedly dropped last month.
0:57.1	The disappointing data comes on the back with spiking mortgage rates.
1:00.4	The average on a 30-year fix now at 4.72% and median home prices are up almost 11% from
	...

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