This one is huge for the economy friends. It comes courtesy of Credit Suisse and shows the total dollar volume of mortgages resetting their interest rates (in the current case, higher) on a monthly basis over a running period. We are reaching a phenomenal phase of mortgage resets which will add further pressure to the already besieged housing market as countless homeowners will now face a much larger monthly mortgage payment.  Additionally, discretionary spending will likely take a significant hit, given the above.  Today’s report on sluggish retail sales could be an early warning signal.

Filed under: Economics