Our Housing [Bubble] Bellwether Barometer has broken under its initial support level as mortgage rates have spiked to 3.9%. While this is an early sign of another bear market warning flag, we would only get full confirmation if this leading housing gauge breaks through its critical support level (bottom red dashed line). This tool will become a key focus of ours in the weeks and months ahead, as a housing crash would have significant economic impacts that could lead to a more protracted bear market.
