Mortgage Origination Activity Drops to a 22-Year Low

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We got news today that mortgage originations are the lowest they've been in 22 years. I mean, you'd expect them to dip a little, right? Because mortgage rates are going up, but they're the lowest they've been in 22 years. You got targets saying, wow, we have all this inventory that we can't move. They're actually going to slash prices, which may bode well, I should point out for inflation, but you get a lot of other things out there now. It suggests we've got problems primarily. I would argue because of energy prices being as high as they are. You can't have a 122 bucks on a barrel of oil and not expect that that's going to have some repercussions on the overall economy in everyday people. There was a study out today actually a Rasmussen pull that showed 34% of Americans say quote a depression is not likely depressed. I mean, that's how bad I think sentiment

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