The Cefa Brief

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  • InsightsEconomic Security

    Two thirds of the M2 increase since 2020 arrived in a single year

    The money stock is 4.26 trillion dollars larger than in 2020. Of that, 2.84 trillion came between 2020 and 2021, and the four years since have added half as much again, including the only contraction in the window.

  • InsightsHousing & Urban Development

    Two years of decline have taken the mortgage rate 0.21 points off its peak

    The thirty-year fixed rate peaked at 6.81 per cent in 2023, and the two annual readings since are 6.72 and 6.6. The federal funds rate ended those same two years 0.81 points lower, nearly four times as far, though it rose before it fell.