Why investors should remain on recession watch in 2023: Morning Brief

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Tuesday, February 21, 2023

Today’s newsletter is by Brian Sozzi, Yahoo Finance‘s Executive Editor. Follow Sozzi on Twitter @BrianSozzi and on LinkedIn. Read this and more market news on the go with the Yahoo Finance App.

After some time on the shelf, I am pulling out my recession-watching binoculars once again.

Sure, you’re going to tell me recent big reads on non-farm payrolls and retail sales are suggesting a recession

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Home loan sizes remain near record highs

National Association of Home Builders CEO Jerry Howard explains why builder confidence is at a 13-month low. 

The latest statistics show people in the housing market have decided to go big in order to go home.

The size of loans that people are seeking is near record highs.

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Overall, demand for mortgage applications declined 3.9% from the prior week as mortgage rates increased, according to the latest survey from the Mortgage Banker’s Association.

The seasonally adjusted Purchase Index decreased 1% from one week earlier.

HOME PRICES HIT NEW ALL-TIME HIGHS

“Despite

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