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GCA FORUMS NEWS For Monday December 29, 2025: Below are revised figures for the Monday, December 29, 2025, GCA Forums News Report, sourced from reliable data. I will note where “live” prices differ by data feed or financial instrument.

GCA Forums News – National Breaking News Report: Monday, December 29, 2025 (America/Chicago)Today’s Market Sentiment

Traders dealt with slow holiday markets and a new rate increase, which led to slow trading. Gold and silver dropped on the CME after margin requirements went up and pushed prices down.

LIVE Closure of the Stock Market (U.S.)

All three indices closed in the red:

Dow Jones Industrial Average: 48,461.93 (loss)

S&P 500: 6,905.74 (loss)

Nasdaq Composite: 23,474.35 (loss)

As the year ends, investors want to secure their profits, and many are reducing risk before the last round of changes to their investments for the month and quarter.

LIVE Closure of the Bond Market and Treasury Yields (U.S. Treasury – December 29, 2025)

Treasury yields show how much it costs to borrow money safely and help predict mortgage costs as they change.

Daily Treasury Par Yield Curves (selected):

• 2-Year: 3.45% (U.S. Department of the Treasury)
• 5-Year: 3.67% (U.S. Department of the Treasury)
• 10-Year: 4.12% (U.S. Department of the Treasury)
• 30-Year: 4.80% (U.S. Department of the Treasury)

The 10-year yield at 4.12% matters because it is the main guide for mortgage rates and affects how people feel about borrowing money. (U.S. Department of the Treasury)

LIVE Fed Policy & Interest Rates

In December, the Federal Reserve kept its strict approach because of ongoing uncertainty and higher risks. Even if rates go down, the current high-rate environment still makes things too expensive for many people.

With Powell’s chairmanship running through May 2026, talk of his departure centers on future succession rather than any immediate change at the helm.

LIVE Mortgage Rates (what matters to borrowers today)

Mortgage pricing remains under pressure due to term yields,

• Unstable mortgage-backed security prices mean that even small drops in interest rates do not help borrowers much. Monthly payments remain high because of rising home prices, insurance, and taxes.

GCA Forums: I can standardize this section to present 30-year fixed, FHA, VA, and 15-year fixed mortgage rates from a consistent source, enabling readers to compare similar products effectively. Metals – Gold & Silver (and YES: silver at $80).

Silver went above $80, reaching a record close to $83.62 before quickly dropping. Even with this big drop, I think this is just a break, not the end of the trend.

Why the sell-off was so violent: CME margin hikes

On December 29, 2025, CME made traders put up more cash for COMEX 5000 Silver Futures, raising the amount needed for main contracts to about $25,000. This amount can change depending on where you trade.

When margins increase, traders must keep more cash on hand, which often forces them to sell positions to meet the new requirements.

1. This can make traders add cash quickly or sell some of what they own, which increases selling and pushes prices down even more.

Silver opened at $79.53 yesterday.” Why your number can be right, and feeds can differ.

Unlike stocks on the NYSE, silver does not have a single official opening. Each platform defines “open” differently depending on the instrument:

• spot (XAG/USD) (continuous OTC),
• COMEX futures (which have.
  Sunday night, Globex opens and has almost continuous trading,
• a specific contract month (Dec/Jan/Mar),
• other currency feeds.

$79.53 may be listed as the “open” on one platform, while another platform or instrument could show a different first-traded price.

Paper vs physical silver

The following explanation may help clarify this for readers :silver (futures, options, unallocated accounts, many ETFs):

• You own a financial product linked to the price of silver.
• These are often bought with borrowed money, especially futures, and can be affected by higher margin requirements.
• Most contracts are settled with money, and only a few end with actual silver being delivered.

Physical silver (silver coins/bars/allocated vaulted metal):

• You possess your own metal, which may be selected, serialized, and stored in a professional vault.
• Physical silver costs extra because of making, shipping, dealer fees, and how much is available.
• During periods of market stress, premiums on physical silver can increase even when the ‘paper’ market experiences significant declines. Reuters published a ‘how silver is traded’ explainer during recent volatility, which serves as a valuable resource for readers seeking to understand the distinctions among trading vehicles such as futures, ETFs, coins, and bars.

The “Big Banks Short Silver” narrative — especially JPMorgan

The following facts can be reported with confidence:

1. Big companies, including banks, often bet against the market in futures to protect their inventory and client trades. Public data shows some of these positions, but it is still hard to know exactly how much they are betting against the market. There is no way for the public to check JPMorgan’s exact position right now.

DOJ: JPM agreed to pay ~ $920 million in settlements tied to schemes involving precious metals and U.S. Treasury futures.

CFTC: record $920 million order for spoofing/manipulation (press release).

How to phrase it on GCA Forums without overreaching.

People in the market say that without daily updates on positions, it is not possible to know how much big banks betting against silver affect price swings in the ‘paper’ silver market. However, JPMorgan has faced major legal problems in the precious metals futures markets before.
It is especially accurate, defensible, and builds reader trust.

Housing Market: what’s happening and what’s nextMarket tensions

Right now, the U.S. housing market is very competitive and uncertain. High prices and interest rates make it hard for buyers to qualify, and many people who want to sell feel stuck in their homes. More sellers are offering price cuts and concessions, but overall supply remains tight.

• Affordability: While pricing continues to attract buyers, current wage levels in a robust labor market help offset elevated home prices.

Is a housing bubble on the way?

The answer is not clear, since the market is still settling down. Here are the two main ‘bubble’ risks: Risk A: Price Collapse. High unemployment and more people being forced to sell could make prices drop, but this is not likely right now because of current lending rules and fixed loans. Risk B: Affordability. The amount people pay compared to their income is important over time. Demand is strong, but most loans go to people with regular W-2 jobs.

A key data point from late 2025 shows pending home sales may have increased, suggesting there is still demand at certain price and payment levels.

Mortgage Industry Survival: “Dry Pipeline” Reality

Recent reports from loan officers across the country show there are fewer strong borrowers, more unusual cases, and a weaker economy.

What has been impacting lenders/brokers:

• reduced margins
• increased operating costs
• increased fallout (borrowers are shopping hard)
• and increased manual and more files that need to be handled by hand, such as those with debt-to-income issues, credit problems, or self-employed borrowers are experiencing increased cancellations and pipeline volatility, a trend that has been reported across the industry in 2025.parison

NEXA has been described in public reporting as a “mega broker” and one of the largest broker networks. The company rebranded in 2025 as NEXA Lending, reflecting a positioning evolution rather than a shift to retail, according to coverage.

For readers, the main point is that NEXA’s size and flexible broker setup help in hard times. Still, the industry struggles with high costs, not enough homes for sale, and more expensive customer leads.

Auto Financing and Rates Forecast: Rates and What Borrowers Face

Auto financing remains expensive for the average U.S. borrower:

• Experian reported average rates of around 6.80% (new) and 11.54% (used) (as of mid-2025).
• Bankrate’s survey puts the average 60-month new car financing rate at 7.01% (December 2025 update).
• As of December 29, 2025, Navy Federal Credit Union posted rates “as low as” certain levels, depending on your credit tier.

Forecast: 2026 Themes and Pressures

The Cox Outlook for 2026 says that affordability will be the main issue, and deals and lower prices will return as more cars become available.

Chicago +Corporate Exits + Sanctuary City: Immigration/ Sanctuary City Legal & Funding Pressure

Chicago and other big cities are under political and legal pressure because of immigration rules and sanctuary city policies, with actions by the DOJ and ongoing disagreements shaping the national conversation. What to report: “Companies leaving Chicago because of Taxes.”

Chicago’s business climate is under renewed scrutiny as city leaders debate revenue solutions, including a possible head tax, and face warnings about the city’s competitiveness. Key HQ moves support this narrative:

• Boeing: HQ moved from Chicago to Arlington (2022 announcement).
• Caterpillar: HQ moved from Deerfield, IL, to Irving, TX (2022 announcement).
• PEAK6: HQ moved from Chicago to Austin (effective Jan 1 per reports).

Rather than speculating on the exact number of companies relocating, it is more accurate to say that big company moves and ongoing tax debates make people think more businesses are leaving.

Current Trump and the voters

Recent polls and aggregators indicate that Trump’s net approval rating is declining further as December 2025 progresses. (Nate Silver)

Kash Patel (FBI Director): “on the way out?”

Controversy surrounding Patel has sparked rumors and calls for his resignation, but he has denied these claims. Reports from early 2025 indicate Patel denied the rumors. Current coverage describes his situation as under pressure, but with no confirmed exit.

Pam Bondi (Attorney General): “on the way out?”

Bondi has faced criticism and calls to resign due to ongoing controversy and the DOJ’s dissolution. However, there are no official actions or records indicating she is leaving, so she remains under political pressure but has not been confirmed to be exiting. Powell’s term as chair continues until May 2026. Any discussion of his early departure remains speculative. While there is ongoing debate regarding his potential successor and future role on the Board, this does not suggest an imminent exit.

What GCA Forums readers should watch for next

• Following the CME margin adjustments, monitor whether premiums on physical metals remain elevated, even as futures prices continue to fluctuate.
• Rates: If the 10-year yield remains near 4.1% and spreads stabilize, mortgage pricing could improve; however, lenders will likely remain cautious due to ongoing volatility.
• Housing: By spring 2026, inventory and affordability will shape the market. Increased inventory could help stabilize conditions, but concerns about a bubble persist, and payments remain the key factor.

https://www.youtube.com/watch?v=Q-uE-QifwwE

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• This discussion was modified 2 months, 2 weeks ago by  Sapna Sharma.

Whether you are a first-time homebuyer, a seasoned home buyer, a buyer of a second home, or investment property buyer, most people will need the services of a real estate agent, mortgage loan originator, home inspector, and real estate attorney. Having a competent team to represent you is of utmost importance. Every professional in the homebuying process need to be competent, knowledgeable, professional, humble, be able to work together not just with the clients but among the team, and have the number one priority of having the client’s best interest in mind. The professional team representing the homebuyer(s) have a fudiciary responsibility in watching over the client and keep an eye on each other and make sure each professional is held accountable if they feel, see, or hear that the homebuyer may be misled or potentially be a victim of fraud. However, there are instances where homebuyers choose a real estate agent, mortgage loan originator, or real estate attorney and during the homebuying process, the homebuyer is not happy with one or all of these folks? What happens then? Can they fire the real estate agent, mortgage loan originator, or real estate attorney? There are instances where buyers may not get along with their real estate agent, attorney, or loan officer so how do you go about replacing them with a different professional. This is a very important topic.

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Whether you are a first-time homebuyer, a seasoned home buyer, a buyer of a second home, or investment property buyer, most people will need the services of a real estate agent, mortgage loan originator, home inspector, and real estate attorney. Having a competent team to represent you is of utmost importance. Every professional in the homebuying process need to be competent, knowledgeable, professional, humble, be able to work together not just with the clients but among the team, and have the number one priority of having the client’s best interest in mind. The professional team representing the homebuyer(s) have a fudiciary responsibility in watching over the client and keep an eye on each other and make sure each professional is held accountable if they feel, see, or hear that the homebuyer may be misled or potentially be a victim of fraud. However, there are instances where homebuyers choose a real estate agent, mortgage loan originator, or real estate attorney and during the homebuying process, the homebuyer is not happy with one or all of these folks? What happens then? Can they fire the real estate agent, mortgage loan originator, or real estate attorney? There are instances where buyers may not get along with their real estate agent, attorney, or loan officer so how do you go about replacing them with a different professional. This is a very important topic.

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It is no secret that the most effective way for your website to get its content indexed and ranked on Google is through backlinking to other high domain authority websites with authority in its field. Let’s take a case scenario to explain what I am talking about. Let’s say it is a mortgage website. Let’s take this online message board, GCA Forums. GCA Forums is a national online community that provides a benefit to consumers and viewers about topics that benefit consumers and viewers seeking important information on the internet. Great Community Authority Forums ahs thousands of URLs on priceless, fact checked content from blogs, daily and weekend news reports, posts and threads from its live online community where viewers, members, and professionals can interact with one another and benefit viewers who may urgently seek the answers to the questions they have or answers to questions where they have gotten conflicting answers. However, in order for those in need of the answers they are seeking from GCA Forums, GCA Forums needs not only to be indexed on Google and other search engines, GCA Forums needs to be ranks on the first page, and preferably the first position or the top three position of Google and the search engines. GCA Forums having thousands of blogs, pages, and live news reports is extremely important and the reputation, authority, and brand depends on its livelihood and longevity of the brand. However, just having one of a kind, fact checked, time sensitive information is not the number one lifeline in having a nationally recognized online message board ( GCA FORUMS) and/or website. For viewers and consumers seeking such content, the online forum and/or website in question needs to be indexed and ranked by Google and all search engines organically. You know nothing is free in this WORLD. Of course any online forum and/or website can be on first page of Google as well as all search engines easily for a HEFTY PRICE. Google will rank you on the first page through charging the forum and/or website a fee, which can run the business and website owners tens of thousands of dollars. Many businesses do not have the budget to pay Google to rank on its first page. So how do you get ranked on first page of Google organically, which means you do not have to pay? It is through DO-FOLLOW BACK LINKING. DO-FOLLOW BACK LINKING is when a different company with a website links GCA Forums (it can be any URL from Great Community Authority Forums). The website that is linking to your website needs to have a HIGH DOMAIN AUTHORITY (DA). So, in this case, let’s say the website linking to GCA Forums is HUD(Housing and Urband Development, the parent of FHA). HUD is a POWERFUL, HUGE FEDERAL GOVERNMENT AGENCY with HIGH DOMAIN AUTHORITY that commands and gets CREDITBILITY and RESPECT. So, if a powerful agency like HUD links a blog written on GCA Forums on their website, the way Google views GCA Forums is that GCA Forums MUIST be a reputable online community with a POWERFUL HIGH AUTHORITY RESPECTFUL WEBSITE therefore Google feels confident and is assured that content in GCA Forums benefits viewers and consumers. Because a powerful respectful federal agency like HUD, the parent of FHA, cites a URL from GCA FORUMS, Google rewards Great Community Authority Forums by NOT just indexing GCA Forums on Google BUT ALSO SHOWS ITS APRRECIATION to GCA Forums by ranking its URL on the first page, and may rank it on the first or second position. This is why it is crucial to have fact checked high quality content so high DOMAIN AUTHORITY websites will backlink your URL on their website. The high DA back linking website considers you an authority in your field and that is why you are backlinked.

• This discussion was modified 1 month, 1 week ago by  Sapna Sharma.

Stock market data for SPDR Dow Jones Industrial Average ETF (DIA)

• The SPDR Dow Jones Industrial Average ETF trades on the US market as an exchange-traded fund.
• The current stock price is $484.50, representing an increase of $1.04 from the previous close, which reflects a 0.21% gain.
• The previous opening price was $482.24, with today’s trading volume at 1,255,410.
• Today’s high is $484.57, and the low is $482.00.
• The most recent trade occurred on December 23, 2023, at 7:50:06 AM PST.

GCA Forums News, live as of December 23, 2025.Current Top Stories

• Wall Street activity slowed before the holiday following a strong GDP report that pushed Treasury yields higher.
• Gold and silver reached record highs as investors sought safe assets and anticipated policy changes.
• Tariffs have affected both consumer confidence and factory activity.
• Consumer confidence declined, while factory output remained stable.
• There is bipartisan criticism regarding the release of the Epstein Files, and Dan Bongino is expected to resign as FBI Deputy Director.
• Rumors indicate possible changes involving FBI Director Kash Patel.
• Earlier reports said Trump wanted Patel removed.
• Trump has publicly supported Kash Patel, and the White House has denied the removal rumors.

LIVE US Markets (Most Recent Available Today in USD)At the market opening at 9:30 ET, the Dow Jones stood at 48,299.87, down about 0.13%

• The S&P 500 opened at 6,873.80 and the Nasdaq at 23,407.70.
• Live ETF proxies: DIA (Dow proxy) and SPY (S&P 500 tracker) are at 686.05, up 0.18%. QQQ, the Nasdaq 100 proxy, is at 619.71, up 0.08%.
• Bonds, The Dollar, & Rate-Cut. The 10-year Treasury yield increased to 4.19% following the strong GDP report.
• Markets continue to expect a rate of at least 2% in 2026, though near-term expectations have moderated.

Mortgage rates are currently in the mid-6% range and fluctuate daily.

• Mortgage News Daily (daily index): 30-year fixed ~6.33% (daily update)
• Freddie Mac weekly survey (latest): 30-year fixed 6.21% (as of Dec 18, 2025)
• Freddie Mac weekly survey (latest): 15-year fixed 5.47%.
• Buyers are sensitive to rate changes and remain cautious about refinancing, including cash-out or debt consolidation, until rates decrease and remain low.
• Gold and silver prices continue to rise as the year comes to a close.
• Gold led, with its spot price peaking at $4,497 and settling near $4,500.
• Silver also increased rapidly, reaching record prices above $70.

Key factors include shifts in the dollar and yields, geopolitical risks, expectations for more accommodative central bank policies, and central bank purchases.

U.S. Economy

The U.S. economy is currently balancing strong GDP growth with the effects of tariffs. GDP growth exceeded expectations, though there are some caveats.

Q3 GDP was approximately 4.3% year-over-year, in line with expectations.

A 43-day federal shutdown delayed several data releases, so markets are relying on older information.

Today’s data indicate that tariffs are increasing uncertainty and prices, affecting real costs even as overall growth appears strong.

• Consumer confidence fell to 89.1 in December (according to the Conference Board), the lowest level since tariffs were implemented in April, as consumers expressed concerns about job security and rising prices.
• Manufacturing production was flat in November.
• Reuters notes that tariffs have disrupted some sectors, with higher import costs harming certain industries and benefiting others. Reuters quoted
• Chairman Powell said that inflation overshooting can be attributed to Trump tariffs, which is important for those tracking mortgage rates.
• Finance chiefs surveyed by Reuters expect prices to rise by 4% or more next year, with tariffs remaining a major concern.
• Independent estimates from Thomson Reuters suggest that tariffs are likely to depress growth, increase inflation, and reduce household spending.
• Inflation risks from tariffs could push long-term yields higher, making it more difficult for mortgage rates to decline and for the Fed to cut short-term rates.

Housing Market Forecast: Monitoring For Potential Downturn and Financial Crisis Risk

Most forecasts for 2026

Most forecasts for 2026 predict a gradual recovery, rather than a sharp decline.

• Realtor.com anticipates average rates of approximately 6.3% in 2026, a 2.2% increase in prices, slight growth in sales, and improved inventory levels.
• Redfin expects home prices to rise by about 1%, a modest increase due to limited affordability.
• Zillow predicts mortgage rates will remain above 6% in 2023, based on market outlooks.
• CBS, based on market outlooks, anticipates an average mortgage rate of about 6.3% next year, with city-specific price declines.
• Forced selling, excessive credit, and overbuilding are the main risks for a crash similar to 2008.
• Many analysts believe the U.S. is currently in a favorable position, but several key points remain: inventory is relatively limited in many markets.
• There is a large number of fixed-rate owners.
• Underwriting standards are stricter than those in 2008.

Market conditions can change rapidly, and significant corrections remain possible.

• If unemployment forced sales.
• If buyers vanish due to credit tightening.
• If there are new bursts of real estate construction or investor liquidation.
• If there is an affordability shock.

The most significant near-term risk is not a housing bubble, but factors such as inflation, tariffs, deficits, and yield volatility, which could slow the economy. These factors directly affect consumer spending and confidence. They also impact business investment and real estate affordability, particularly through fluctuations in interest rates.

Politics and Washington: confirmed developments versus rumors. Confirmed Bongino stepping down

• Reuters reports that FBI Deputy Director Dan Bongino will step down in January, marking the end of a brief and turbulent period.
• Rumors persist regarding Kash Patel’s potential removal, although reputable sources offer limited confirmation.
• Reuters (Nov. 26) reports that Trump is considering Patel’s removal, based on MS NOW reporting; however, Trump and the White House have publicly supported Patel.
• There are rumors regarding Pam Bondi’s competence, but the following are confirmed facts.
• It is a well-documented fact, reported by major news outlets, that there has been significant political backlash over the DOJ’s handling of the Epstein file releases, including bipartisan disregard for the law and threats of contempt if the DOJ fails to comply.
• While it is unclear whether this reflects incompetence, the controversy and backlash are making headlines as the year comes to a close.
• These developments are unfolding in the final days of the year. the year.

Mortgage Rate Forecast

Consumers and buyers can expect rates to decrease, although not in a consistent pattern or manner.

• Even if the Federal Reserve lowers rates, risks from inflation and tariffs may keep mortgage rates elevated, resulting in persistently high rates.
• Forecasts suggest home affordability will improve significantly by 2026, as incomes are expected to rise faster than home prices.
• For homeowners, current trends in stocks and metals indicate that investors are avoiding risk.
• Two variables of movement in the equities and “jobs data.”

https://www.youtube.com/watch?v=8T1LHEDJkN8

• This discussion was modified 2 months, 3 weeks ago by  Sapna Sharma.

Some of my co-workers and I have been talking about how truck prices have gone through the roof. There are many trucks that near six figures. Don’t take me wrong, it looks greats with many luxury options. However, one thing I do not understand and never will is how trucks and other types of vehicles depreciate in value from the minute you leave the dealership parking lot. One vehicle that has drawn interest for many years is the Jeep Wrangler. I recently discovered it was not just me that is fond of Jeep Wranglers, but many of my co-workers also. There are so many different types of trim levels on Jeep Wranglers. I often ask my co-workers and third-party sub-contractors at work and it seems I am getting different conflicting answers. Even colleagues and friends who own Jeep Wranglers do not seem to know the true answer and are talking out of their asses. For example, I asked a co-worker and friend of mine, Dimitri, where his wife owns and Jeep Wrangler Sport. I asked Dimitri if he can tell me the various types of Jeeps from the lowest trim level to the higher trim level because my wife and I are considering purchasing a Jeep Wrangler for our next vehicle. He tells me that the Jeep Wrangler Sport is the top of the line Wrangler. I do not know whether he is correct or not but my questions are the following:

1. I have been told that Jeep Wranglers often do not plummet in value compared to other trucks.

2. Jeep Wranglers can be great in value and even can be a great investment if you purchase the right one with the right option.

3. I subscribe to Coffee Walk, where the host Mr. Collins, is a Jeep expert and said some Jeeps, like the Jeep CJs from the 80s are great investments and prices continue to surge.

4. Can you please cover and explain the various Jeep Trim Levels such as the Jeep Rubicon, the Jeep Sahara, The Jeep Limited, The Jeep Unlimited, The Jeep 392, The Jeep Sport, The Jeep Diesel, the 4, 6, and 8 cylinder Jeeps, and all the other Jeep models and where each is different from the other as well as their rankings? For example, many auto manufacturers has the various trim levels on SUVs such as Platinum, Limited, and XLT. For example, the Dodge Durango has all these different trim levels like the Trackhawk, Hellcat, the SXT, the SRT, and many others where it is so confusing I am still lost. If anyone would be kind enough to explain the various different types of trim levels of the Jeep, what you would recommend, what has the best bang for the buck, why there is such a huge price range from $4,000 to over $100,000 brand new, the potential the Jeep owner has in customizing their Jeep Wranger from new rims and tires, to fender flares, to lift kits, body moldings, and the endless after market accessories and parts. Thank you in advance and will be awaiting your answers. Thank you, again.

https://www.youtube.com/watch?v=RfF0k2qkhmw

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How much will it cost to repair rusted out rocker panels both drivers and passenger sides and rust repair here and there on a 2000 GMC SIERRA 4×4 Extended Cab Pickup Truck. Truck does not have to be repainted. A strong buff and wax should fo it. Thank you

• This discussion was modified 2 months, 4 weeks ago by  Hunter.

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• This discussion was modified 2 months, 3 weeks ago by  Sapna Sharma.

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I’m looking for honest, practical feedback — not marketing hype. If you think any of these aren’t among the best betting sites in India, or if there are better alternatives, please share your thoughts.

• This discussion was modified 2 months, 4 weeks ago by  cbt org.
• This discussion was modified 2 months, 4 weeks ago by  cbt org.
• This discussion was modified 2 months, 3 weeks ago by  Sapna Sharma.
• This discussion was modified 2 months, 3 weeks ago by  Sapna Sharma.

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Here is your current news summary for Great Community Authority News (GCA FORUMS NEWS). It features live-style updates on major sectors for December 8-14, 2025. The summary covers the economy, interest rates and mortgages, precious metals, housing, the Federal Reserve, the political realm, and other relevant updates for GCA Forums members and Gustan Cho Associates’ clients.

LIVE INTEREST & MORTGAGE RATES: Mortgage rates this week:

The average 30-year fixed mortgage rate is around 6.28% to 6.314%, depending on the region.

Rates increased slightly this week, which contradicted expectations regarding the Fed’s reaction.

15 year fixed ~ 5.59%, refinance rates ~ 6.83%.

Mortgage rates are higher than the historical average. Many home buyers are cautious. Rates should remain above 6% Fahrenheit for 2026.

In the housing market, buyers are moving to so-called “refuge markets”—areas like Grand Rapids, St. Louis, and Cleveland, which offer more affordable housing and greater inventory.

LIVE DOW JONES & STOCK MARKET NEWS: This week’s market update

• Record achievements continued mid-week, with major stock market indexes and the S&P 500 closing the week at all-time highs.
• Last week, the Dow fell as the week began, as large industrials and consumer stocks saw selling pressure.
• Futures heading into the week also exhibited a downward trend, driven by selling pressure.
• Some sector weakness appeared in the tech sector, with companies like Broadcom and Oracle.
• However, some stocks, such as Tesla and Eli Lilly, showed sector strength.

Individual Movers

Carvana (CVNA) experienced volatility but ended the week on a positive note, with optimism surrounding its potential inclusion in the S&P 500.

Fed Rate Cuts

Weaker job reports fueled speculation of possible Fed Rate Cuts, which proved bullish for the stock market.

Market Dynamics

• Precious metals are also impacted as the market expects a Fed Rate Cut.
• Both markets are experiencing broader macro uncertainty.
• Investors focus more on the safety of the investment.
• Discernible assets are attractive to investors, but this attractiveness diminishes if they lose value.

Gold

Gold held steady at approximately $4,300 per ounce by the end of the week, with demand for safe havens supporting stable pricing.

• Gold rose 2% over the week.

Silver

One of the biggest and most notable assets of 2025 is silver.

It surged past $60/oz and hit an all-time high of about $64.64.

Supply is low and industrial demand is high.

Intense speculation has led some markets to believe that silver has, at times, surpassed Microsoft’s market cap.

Lt. Gen. Daniel Hokanson (through October 29): The whole thing began as a training exercise that the East Coast U.S. military command (EUCOM) conducts.

It then became a genuine command and operational mission, whose complexity and difficulty had never been seen before.

• Le Monde has the closest estimates of the number of illegal crossings.
• Since September 24, we have video footage of 708 crossings, and the number has continued to grow since then.
• Arthur Ashkin of the U.S. has done extensive work, including one notable case, a notable success, and a series of successful implementations.
• Le Monde is well aware of border crossings, and the destruction of U.S. military equipment is a common tactic of insurrections.

LIVE FEDERAL AND NATIONAL POLITICAL NEWS: Letitia James & James Comey Cases

• Explanation: Recently, James Comey, Former FBI director, and Letitia James, New York Attorney General, have been federally prosecuted and indicted.
• They are awaiting trial in 2026. However, as of this week, there is no confirmed source in the public domain that refutes this.

The Supreme Court And Federal Power

• The United States Supreme Court has given the green light to change the scope of law, granting the United States President the power to appoint members to a board of independent agencies.

Federal Policy Issues

• The Senate has failed to pass legislation that would reduce health care costs.
• This has a direct effect on the ACA tax credits and the greater insurance market.

Other National Highlights

• Texas has launched a Strategic Bitcoin Reserve initiative.
• Florida has designated a Muslim civil rights group as a foreign terrorist organization, a move challenged by activists and civil rights groups.

SANCTUARY CITY AND IMMIGRATION NEWS

• Federal and state courts are once more active in shaping the immigration enforcement arena: A judge has upheld New York’s charter that limits civil immigration arrests at state courts, thereby sustaining state sovereignty protections claimed by NY AG Letitia James’ office.

SUMMARY TAKEAWAYS FOR GCA FORUMS MEMBERSMARKETS:

Stocks: Mixed and positive. Major indexes reached record highs by mid-week, adding to the positive momentum in the sector.

Precious metals: Silver prices are at an all-time high, while gold prices are expected to increase due to the Fed remaining dovish.

Rates: Mortgage rates, currently around 6.3%, are on the higher side, contributing to increased housing unaffordability. However, there are improvements in the housing market, particularly in terms of housing inventory.

Economy: The Fed is in a rate-cutting cycle, but signs of divergence are emerging; consumer sentiment is down.

Politics: Significant judicial and administrative power developments; Letitia James/James Comey remains under no clearly justified acquittal.

Real Estate: More buyers are moving to affordable markets; NAR data indicate older buyer profiles.

Immigration: Judicial decisions regarding sanctuary cities continue to offer the same state protections.

https://www.youtube.com/watch?v=IXakP5ZaO5k&list=RDNSIXakP5ZaO5k&start_radio=1

• This discussion was modified 1 month, 1 week ago by  Sapna Sharma.

I just talked to Mr Cho and im thinking of becoming a loan officer and talk to Alex…is there any jobs part time i can work with that pays till i can get my license and get a few deals under my belt..Im ready for the next step in life..i wanna buy a house in 2 years and need to get my life in order .. Advice is very much appreciated

To become a loan officer, you need to complete a 20 hour pre-licensing course and pass the 125 hour three hour national NMLS federal exam. The key in passing the national NMLS exam is to go through hundreds of practice multiple choice question. I highly recommend Angie Crippen of On Course Learning. Angie is hands on and will go above and beyond to get you what you need, whether it is now passing the 125 hour course or throughout your mortgage career. Below is the link the NMLS mortgage licensing school On Course Learning with Angie Crippen as our account executive.

https://gustancho.com/mlo-license-school/

• This discussion was modified 2 years, 2 months ago by  Gustan Cho.

gustancho.com

MLO License School

MLO License School

GCA FORUMS NEWS – National Market & Political Report: Thursday, December 11, 2025FOMC Rally

The FOMC Rally continued today, and it’s earning its holiday name as it enables all the major indexes to experience historical highs on the same day.

The Dow closed out the day with a record high of 48763.5, gaining 543.99 points with a percentage increase of 1.12%.

Following that, the S&P 500 closed with a record high of 6,905.12 with a gain of 14.07 with a percentage increase of only 0.2%.

The Nasdaq Composite lagged behind and closed at 23,515.12, with a 0.05% decrease, marking the only index that did not reach a record high.

The reason for the Nasdaq Composite’s lag is due to the poor performance of the tech giant Oracle (ORCL), which continued its steep post-earnings drop.

Following the descent that Oracle has seen, the entire tech sector has seen similar declines.

Recent FOMC results and reactions are leading the market to experience significant increases in value, which in turn raises levels of investor confidence.

From a borrower’s perspective, the increases seen in the market directly reflect the value of retirement accounts and the overall investor confidence.

Both of these concepts directly correlate to an active and confident consumer market, specifically in the housing sector.

Additionally, positive equity in homes allows homeowners more flexibility, enabling them to sell, buy, or invest in additional properties.

Transitioning Now to Monetary Policy Developments: Rates

At the December Federal Reserve meeting, the Federal Reserve cut the federal funds rate by an additional 0.25 percentage points, bringing the target range down to 3.5-3.75% – the third cut for the year 2025. Chair Jerome Powell reiterates that there is “no risk-free path” and warns there are downside risks to the labor market, even as inflation continues to cool.

In the bond market, there are lower yields, for instance;

10 Year Treasury Yield: Pulled down to the low 4 percent range (with a low but flexible rate from 4.1-4.2%).

This directly connects to mortgage pricing.

Based on the Freddie Mac Primary Mortgage Market Survey published on the day.

• 30-year fixed rate mortgage: At 6.22% which is an upward trend from 6.19% of the previous week, but remains conservatively below the YTD average of 6.62% for 2025.
• 15-year fixed-rate mortgage: Standing at 5.54%

Freddie Mac affirms that rates are “close to 2025 tops”, and therefore a lower rate supply is presenting itself to those buying and refinancing relative to the previous 7-8% peak rates earlier on.

Addressing Implications for GCA Forums readers:

• Purchase loans: Payment estimates are better compared to previous high points for 2023-2024.
• However, they remain extremely high when considering the previously ultra-low levels available before the COVID-19 pandemic.
• Refinancing: Homeowners with hard-money, non-QM, or high-rate loans now have stronger opportunities to transition into DSCR, FHA, VA, or conventional products, especially if they have built equity or improved credit since their last loan.
• Investors: Lower long-term yields help pencil DSCR loans better—cap rate vs. debt costs are tight, but the math looks better than it did with 8%+ loans.

Labor Market: Jobless Claims Jump, But Economists See “Noise.”

Weekly Jobless Claims reported an increase of 44,000 to 236,000, the largest weekly increase in almost 4.5 years.

However, most economists blamed the seasonal adjustment issue and pointed to the four-week average (~217,000) as evidence of the labor market’s continued stability.

Continuing Claims fell by 99,000 to 184,000. Economists describe a “no-fire, no-hire” market, one that cools without collapsing.

For borrowers, this means:

• Job stability and gaps in employment are still being watched closely by lenders.
• Underwriting remains sensitive to income instability for manual underwriters, non-QM borrowers, and those with prior credit events.

Tariffs and the U.S. Economy: $1,200 Hit per Household, Study Says

A study suggests that the recent tariffs on imports will exacerbate the already growing inflation in the U.S. economy, resulting in an additional $1,200 in expenses for every American househA recent report by Democrats on the Joint Economic Committee of Congress finds that import tariffs at the start of Trump’s second term cost the average household about $1,200 from February to November 2025—$159 billion total.llion.

Here are the report’s main findings:

• The highest average U.S. tariff rate increased from 2.4 to about 16.8 percent, the highest U.S. tariff rate since 1945.
• Democrats argue that tariffs act as a tax on families, increasing prices and worsening the cost-of-living crisis.
• The White House points out that tariffs are protective of U.S. jobs and lure trillions in investment to American manufacturing, and correct lopsided trade deals from decades past.
• Economists, including Kimberly Clausing, labelled the tariff package as one of the largest effective tax increases on U.S consumers in a generation, as it is forecasted to cost $1,700 per household on an annualized basis.

The consumers, housing, and tariffs:

• Tariffs increase the cost of imported goods, ranging from building materials and appliances to autos and electronics, and also raise the interest rate to 3.0 percent for the year, as of September, according to the CPI inflation.
• Increased input costs make new construction for builders unmotivating, which keeps home prices sticky even when the demand for construction is on the decline.
• For DTI ratio management of GCA Forums-type borrowers, a small increase in basic cost goods, such as cars, groceries, or other materials, could determine whether you are approved or referred/denied.

Housing Market Check: More Inventory, Slightly Softer Prices

Active Listings: Up 12.6% yearly

Median Price: 415,000, a year ago down 0.4%

Price per Sq Ft: 1% year-over-year decrease

Percentage of Listings with Price Cuts: 18% up 1.3% from the previous year

Some areas of the country, such as Cleveland, Milwaukee, St. Louis, and Louisville, are considered refuge markets. These are the areas where buyers choose to purchase a home because they are cheap and the price per square foot is increasing.

For homebuyers and investors: Days on market are brief in top cities.

This means that buyers have more options compared to previous years, 2021-2022, and consequently, they have more negotiating power.

Refuge markets have rising rents, with a rate of 6-7%.

This means that investors using DCSR loans will benefit, and the interest rate will compare favorably to others, such as 15-20%.

For homebuyers looking to purchase a larger home, there are more realistic contingent offers.

Precious Metals: Gold Near Records, Silver Goes Parabolic

It really does look like we are passing a stressful test for the gold market.

• Gold’s current market price is about $4,233.75 an ounce, up a fraction from the previous day’s price.
• Silver, at $62.46 per ounce, has also reached a record.
• Silver has more than doubled in value this year, reflecting a significant global shortage.
• USA Gold’s daily report attributes the price rise to an increase in interrelated industrial demand for solar energy, electric vehicles, and consumer electronics.
• Supply from the silver mines is now 20% insufficient, and physical silver is scarce at any price.

And for those watching mortgages and residential real estate:

• Gold and silver prices serve as indicators of hedging against currency and inflation risk, as well as major policy looseness.
• Nervous equity investors tend to invest in real assets.
• When financing is viewed as very expensive, as it is currently relative to the 2010s, more is expected to be allocated to real estate and precious metals.
• Both are long-term store-of-value.
• Switching gears to political media coverage?

You inquired specifically about the extramarital relationship allegations around VP JD Vance and Erika Kirk (wife of the recently deceased Turning Point USA founder Charlie Kirk), and if Vance is the alleged father of her child.

Here is what we have so far in terms of responsible reporting and fact-finding:

• Internet speculation and rumors suggested a relationship of infidelity between Vance and Erika Kirk, based on campaign event pictures of them together.
• Vance and Erika Kirk have had no relationship in the fact-checkers’ justice; the other reports summarized to describe a Snopes review.
• Rumors have no basis other than out-of-context videos and a conspiratorial presence on social media… There were no documents or even corroborating testimony.
• He was a guest in an interview where Vance spoke about the speculation and was even quoted in NBC News, stating,
• “There is a great misconception that the insecurities presented in some of the rumors and speculations are of great concern to all, and they should be carefully evaluated and disposed of.”

That suggests:

• There are NO espousing allegations or even legitimate papers that purport to an affair or illicit fatherhood in the public domain.
• A thorough speculative analysis currently exists, primarily in the cyberspace of conjectures and partisan opinion reporting.
• Considering our safety and accuracy policies, as well as the current situation, we believe the allegations of infidelity are false and have been thoroughly checked and disproven by the involved fact-checkers.

Owen’s Criticism – ERIKA KIRK

Infighting on the right is, and has been, very real, and the feud between Owens and Erika Kirk is now a public matter.

Kash Patel, Dan Bongino & the FBI Controversy: Facts, Speculations, and Uncertainties

You have also expressed interest in Kash Patel, Dan Bongino, the FBI, the use of the FBI jet, the SWAT, and whether they are “on their way out”. Here is what the journalism world has to offer:

The Patel $60 Million FBI Jet

• Patel is accused of using the FBI’s approximately $60 million Gulfstream jet to travel to multiple destinations during the performance of his country-singer partner Alexis Wilkins.
• Several former FBI employees alleged that Patel crossed the line, and the FBI is now investigating this case.
• The same sources claim that Patel supposedly deployed elite tactical teams from the FBI, including Wilkins and her entourage, which raises questions about what other duties should have been the priorities.
• One story recounts how Patel became angry when the staff didn’t have an FBI-branded jacket prepared for him in Utah, with aides characterizing the incident as revealing Patel’s enormous ego and insecurity.
• The FBI has refused to comment on specific protective measures, and Patel has denied any wrongdoing, arguing that his travel and security arrangements were entirely reasonable and mission-oriented.

Dan Bongino’s Leadership and Criticism from the Rank and File

In a different but widely publicized story, a stream of reports collated in People and the Daily Beast all describe the same as a highly critical portrait of the FBI’s leadership in Patel and Deputy Director Dan Bongino, as follows:

• The report discusses an FBI that some of its agents describe as “rudderless” and “politicized.”
• Several current and former agents cited in the report claim that Patel is “in over his head” and that Bongino is inexperienced to lead a large federal law enforcement agency.
• One former counterterrorism agent, whose words were recorded in the report, straightforwardly describes Bongino as “a clown” due to his hyper-partisan media narrative, his troubled past, and his tendency to exaggerate overly headline-seeking cases.

Patel and Bongino have not been publicly announced as having been fired or pushed out. However, there is:

• Not an internal culture report, this is negative.
• plus many pending congressional inquiries on jet usage and resource dissemination,
• Plus many more available.
• Many analysts are wondering how long they can remain in their positions without performing their jobs correctly or introducing new leaders.

Are They on “Bad Terms” with Trump?

Public reporting does not have a simple yes or no answer to this:

• Some reports frame Patel and Bongino as loyal Trump allies under pressure, especially after controversies like the mishandling of Epstein-related documents and major leaks.
• Trump is angry is a speculative opinion, and the leaks are mostly opinion and gossip, not facts.

So the most accurate summary is:

There is serious controversy and internal dissent around Patel and Bongino’s leadership at the FBI, including specific allegations about misuse of travel and security resources.

Their future is uncertain, but as of today, there is no confirmed decision to remove them from the list.

Big Picture: What Today’s News Means for GCA Forums Members

Putting it all together for borrowers, homeowners, and investors:

• Rates: The Fed’s cuts, along with lower 10-year yields, lead to conventional rates around 6%, while FHA/VA rates are even lower.
• This is much friendlier than the 7-8% peaks; it is especially beneficial for borrowers with past credit events, who rely on manual underwriting, and flexible lenders.
• Tariffs & inflation: On overall inflation, tariffs function as a stealth tax on the economy.
• They inflate the prices of some goods, even as overall inflation remains in the 3% range.
• This reduces the DTI and available savings for the down payment.
• Jobs: The labor market remains solid, although it is losing some momentum.
• Lenders now place more emphasis on stable, consistent income documentation, job permanence, and avoiding major job changes during the application process.
• Housing: Additional listings, combined with slight price reductions and lower interest rates, result in better negotiating power for the buyer; this is especially true in refugee markets with relatively affordable housing.
• Noise vs. Signal in Politics: Personal rumors, such as the JD Vance and Erika Kirk affair, are just that; they are largely unverified gossip.
• On the other hand, underlying the key elements that shape the mortgage market are hard facts, including Federal Reserve policy, tariffs, inflation, employment, and housing inventory.

https://www.youtube.com/watch?v=qUIqhbm3K70&list=RDNSqUIqhbm3K70&start_radio=1

• This discussion was modified 2 months ago by  Sapna Sharma.

GCA Forums News For Saturday, December 6, 2025LIVE UPDATES

DOW JONES INDUSTRIAL AVERAGE

6,852.34 (value at 12 pm EST)

Change: +19.91 ppp (0.29%)

The market is showing a small upward trend, but investor uncertainty about the overall economy and future growth means any gains may be limited. This could lead to more cautious investment decisions and slower economic expansion.

PRICE OF PRECIOUS METALS

Gold prices have reached a key resistance point.

Silver prices remain within their usual range.

Gold and silver prices remain volatile, indicating ongoing economic uncertainty. This volatility may prompt investors to seek safer assets and signal instability in broader financial markets.

INTEREST RATES

Federal Funds Rate: 3.75% – 4.00%

The federal funds rate was cut by 25 basis points in October.

At the December 9-10 FOMC meeting, there is an 80% chance of another 25-basis-point rate cut.

Powell stated that a rate cut is not a certainty.

Most Federal Reserve members point to the current 3% inflation rate, which is just above their 2% target, as a reason to pause further rate cuts.

INTEREST RATES + MORTGAGE RATES

Home mortgage rates remain high, partly because the Fed has not yet decided whether to cut rates. This uncertainty is keeping many buyers out of the market, making homes less affordable and slowing down real estate activity. Continued high rates reduce home sales, limit construction, and can lead to decreased consumer spending in related sectors.

CONSUMER & RETAIL NEWS

FOR THE FIRST TIME, THE HOLIDAY SEASON HAS RECORDED CONSUMER SPENDING ABOVE $1 TRILLION

The National Retail Federation expects holiday sales in November and December to top $1 trillion for the first time, reaching between $1.01 and $1.02 trillion. Higher spending can boost retail profits and support job growth, but economic effects depend on whether this growth is driven by higher prices or increased demand.

Key takeaways:

Spending rose by 9.1% from 2023 to November 2023. Black Friday saw a significant jump, with $11.8 billion in online sales.

Online spending on Thanksgiving Day hit a record $6.4 billion, up 5.3% from last year. Although revenues increased, economists suggest the rise may be largely due to higher prices from inflation, so actual sales volumes may not have grown significantly. This raises concerns about true consumer buying power and the health of demand, which could impact future business planning.

Spending with buy-now-pay-later services in November and December is expected to reach $20.2 billion, up 11% from last year.

K-SHAPED ECONOMY REFLECTED IN CONSUMER SPENDING

Consumer spending shows a K-shaped recovery in these ways:

Higher Income Households: Spending increased by 2.7% until October.

Lower-income households: Spending increased by only 0.7%.

Lower-income households spent less on non-essential items and sought discounts, but maintained a moderate level of optimism.

Retailers like Walmart are gaining market share among all income groups, unlike Target and some others.

HOUSING AND REAL ESTATE NEWSTHE MORTGAGE INDUSTRY AWAITS BANK OF JAPAN POLICY

The mortgage and real estate industries are closely watching the upcoming Federal Reserve meeting. If the Fed implements a negative interest rate policy, it could bring more money into the sluggish housing market, potentially increasing home sales and related services. Currently, the market is stalled, as first-time buyers wait, current homeowners remain put due to low rates, and homes remain unaffordable, even though prices are lower than in past decades.

Existing homeowners are constrained by lower rates. While mortgage rates remain high, housing is more affordable than it has been in decades.

President Trump has criticized Fed Chair Powell, referring to him as “Too Late Powell” in relation to concerns about the U.S. housing market. The White House states that new policies could result in significant household savings through 2025, potentially increasing discretionary spending and supporting economic growth.

DEVELOPING: LEADERSHIP OF THE FBI UNDER RISKKASH PATEL SCANDALS

FBI Chief Kash Patel is facing scrutiny due to multiple controversies.

Traveling Government Jet:

Patel has been investigated by Democratic Congress members for what he claims is work-related travel on the FBI’s Gulfstream to watch:

His Country western singer girlfriend Alexis Wilkins performs at a wrestling tournament at Pennsylvania State University.

Several trips to Nashville, home to Wilkins.

Las Vegas trips where Patel has a residence.

Texas for social events with his companions.

Details of Security:

MS NOW reports that Patel has, for the first time, assigned FBI SWAT team members to protect his girlfriend. This decision has been regarded as controversial.

Patel has also reportedly instructed agents on at least two occasions to provide transportation home for one of Wilkins’ friends after social events in Nashville. Patel is said to have contacted the detail leader to ensure the order was carried out.

The former FBI agent Christopher O’Leary said: ‘‘It is not only inappropriate to assign FBI SWAT personnel to a security detail to protect his girlfriend, but also to assign them to babysit his girlfriend’s friend, which is at a whole other level and shows absolutely no judgment or integrity on the part of Kash Patel.’’

The FBI jacket affair

A 115-page report from the National Alliance of Retired and Active-Duty FBI Special Agents and Analysts states that after conservative activist Charlie Kirk was assassinated in September, Patel, who was traveling to Utah, declined to leave the plane until he was provided with a medium-sized FBI raid jacket.

When a female agent offered her jacket, Patel again declined to leave because it lacked the appropriate Velcro patches.

SWAT personnel involved in an ongoing investigation provided him with some of their patches.

Internal FBI Report:

During the Patel and Bongino era, the FBI has been described as lacking direction. Current and former personnel characterize Patel as “insecure,” “in over his head,” and lacking the “necessary experience.”

Colleagues have called Bongino “something of a clown.”

The agency is reportedly losing focus on key issues and placing greater emphasis on social media presence over substDuring the Kirk investigation, Patel reportedly went on an “expletive tirade” against Special Agent in Charge Robert Bohls in Salt Lake City.n Salt Lake City.

White House Response:

White House staffer Abigail Jackson stated that Patel is dedicated and regarded as a key member of the President’s team, working to uphold integrity within the FBI.

Trump has denied he is considering firing Patel, telling Fox News, “I am very proud of the FBI. Kash…they have done a great job.”

POLITICAL NEWS JD VANCE AFFAIR ALLEGATIONS DEBUNKED

Social media claims that Vice President JD Vance is having an affair with Erika Kirk have been fact-checked and disproven by Snopes and other outlets.

A claim originated from an October 2025 Turning Point USA event, where someone reported receiving a hug from a well-known person and alleged inappropriate behavior.

Major news outlets have been informed about these complaints, but none have reported on them because the claims are not substantiated by facts.

Conservative podcaster Candace Owens said over the weekend that President Emmanuel Macron told the press he had the right to order her assassination and even included “one Israeli” on the list. iFBI Director Kash Patel told Megyn Kelly that the FBI has no information about possible foreign threats to Owens, but they are not ignoring her claim.s no intention of ignoring her claim.

OTHER BREAKING NEWSASSASSINATION OF CHARLIE KIRK

After conservative activist Charlie Kirk was assassinated in September, 22-year-old Tyler Robinson was arrested. Since then, Patel has faced numerous questions about potential oversight failures in this highly controversial case.

GOVERNMENT SHUTDOWN IMPACT

The Federal Government Shutdown has caused several effects:

Delayed release of key economic data due to the shutdown has disrupted the Federal Reserve’s ability to make informed policy decisions, potentially leading to less effective economic management. Funding for SNAP, the food assistance program, was put on hold, resulting in lower spending among low-income consumers. ing less.

When federal spending is delayed, the private sector loses income. This can lower business revenue, slow hiring, and hinder economic growth, especially in industries that rely heavily on government contracts.

The holiday shopping season is very important, so delays are especially harmful right before the holidays.

CDC VACCINE CONTROVERSY

The CDC’s Advisory Committee on Immunization Practices (ACIP) caused a lot of debate when it changed its recommendations for vaccinating all infants against a virus that affects the liver.

ECONOMIC OUTLOOK

Experts have differing opinions about what will happen to the economy soon. Some point to strong consumer spending, with retail sales up 4.3% since September 2024, while others focus on four key concerns: Inflation is now at 3%, whereas the Federal Reserve’s target is 2%.

Job growth is slowing, and although unemployment remains low at 4.3%, it is gradually increasing.

Tariffs: Prices for some consumer goods are rising because of President Trump’s tariffs. Surveys show 60% of people think tariffs are causing more than 10% inflation on these goods.

Consumer Sentiment: Although people are spending a significant amount, most still have a negative outlook on the economy.

Reports indicate that the Trump administration is developing a national security strategy that portrays European allies as weak, with the aim of restoring U.S. dominance in the Western Hemisphere.

LOOKING AHEADIMPORTANT DEADLINES

December 9-10: FOMC Meeting (Federal Reserve) – Announcement on the interest rate.

December 15: House Democrats’ deadline for Kash Patel travel record requests.

December 31: Closing date for the holiday shopping season. Final retail sales data to be published.

GCA Forums News is committed to responsible, evidence-based journalism. We correct misinformation and check claims with at least three independent, reputable sources.

https://www.youtube.com/watch?v=L9QOS3jYiYY

GCA Forums News – LIVE Market, Mortgage, and Housing Report: December 2, 2025, Just Before Noon U.S. Markets

Here’s what’s happening in the U.S. markets just before noon on Tuesday, December 2, 2025:

Stock Markets: All three major indexes are up—Dow by 0.4%, S&P 500 by 0.3%, and Nasdaq by 0.6%. Each is close to record highs.

10-Year Treasury Yield: Around 4.1%, which is a bit higher than yesterday.

Mortgage Rates: The average 30-year fixed mortgage rate is between 6.1% and 6.3% nationwide, while the 15-year fixed rate is 5.5%.

Gold: Gold is trading at approximately $4,200 per ounce, down 0.3% from the previous price but still near a six-week high.

Silver: Silver is trading between $57 and $59 per ounce, close to a record high after big gains in 202Jobs: Unemployment is around 4.4%, the highest in recent years during this election cycle. The recent federal government shutdown has made data less reliable. Growth and Inflation: U.S. GDP is expected to grow by 1.7% to 2.0% in 2025, with inflation likely in the high 2% range.

LIVE BREAKING NEWS WHICH SHOULD MATTER TO EVERY HOMEOWNER AND BORROWER

OECD: Global Growth, but 2026 Will Be the Key Year. The OECD expects global GDP to grow by 3.2% in 2025, with the U.S. growth rate at 2.0%. While the economy is still expanding, it is doing so at a slower pace than in 2024. This could mean fewer job opportunities and slower income growth for borrowers. Rising tariffs and trade tensions are pushing up inflation, which can reduce purchasing power and make goods, services, and mortgage payments more expensive. Real terms.

The OECD predicts that rate cuts will end by 2026, and policy rates will stay above pre-COVID levels. This means loan and mortgage costs could remain higher for longer, offering less relief to borrowers who don’t expect the very low rates from 2020-2021 to return soon. Higher rates will keep borrowing costs high for homeowners and buyers, affecting monthly payments and affordability, even if rates drop slightly.

Two Federal Reserve officials have recently commented: Atlanta Fed President Raphael Bostic notes that, while the labor market is cooling, inflation remains a significant risk and is above the Fed’s 2% target. He says we should not cut rates too quickly, as that might be counterproductive, as price pressures would build up.

Boston Fed President Susan Collins states that tariffs and trade disruptions in a fragmented global economy may further exacerbate inflation and contribute to increased interest rate volatility. November 2025 Financial Stability Report: the following ([Federal Reserve:

High levels of asset prices (equities, real estate, and debt securities).
High business and residential debt in certain areas.

Persistent concerns due to AI-induced market exuberance, geopolitical instability, and cyber threats. The Federal Reserve is moving carefully. Rate cuts are likely, but they’ll happen slowly. If your mortgage rate is 7% or 8%, refinancing could be beneficial, but consider whether the savings are worth it, as the cuts will be gradual. Borrowers should set realistic expectations and not wait for extremely low rates to return.

LIVE STOCK MARKET: DOW JONES, S&P 500 & NASDAQ Major Indexes

As of the middle of the trading day, **all three major U.S. indices are in the green:

Dow Jones Industrial Average:

Up 0.4%, trading near its record closing high of 48,000 set on November 12, 2025.

S&P 500: Up 0.3%. Approximately 300 stocks are down, resulting in a mixed but positive market breadth.

Nasdaq Advances for December

Most of Nasdaq’s 0.6% gain came from a rally in tech and crypto-linked stocks, which started after a rough tech rout in the first half of the month.

AI Bitcoin stabilized after sharp declines, trading between $80,000 and $90,000. This supported a rebound in crypto-related stocks. Infrastructure, BlackRock maintains a bearish outlook for long-term Treasuries in 2026.

Growth in the AI sector and stock market is leading to increased household spending and higher demand for luxury and larger homes.

However, if long-term Treasury yields remain high to finance AI and budget deficits, mortgage rates may also stay elevated. Even with Fed rate cuts, mortgage rates may not fall as much as expected, potentially impacting housing affordability.ds at 4.12%. The 10-year Treasury yield is 4.12%, up slightly as investors shift their allocations from bonds to riskier assets. The yield is expected to be 4–4.5% for much of 2025, and lower than the 2022-2023 predictions, as has been the case for much of 2025. (Goldman Sachs) The 10-year Treasury is the main benchmark for 30-year fixed mortgage rates. When interest rates rise, mortgage rates typically follow suit and increase accordingly.

LIVE Mortgage Rate Snapshot (National Different surveys show small differences, but the average is steady, consistent:

Thirty-year fixed-rate mortgage (conforming, owner-occupied):

6.2 to 6.3\% overall, according to Freddie Mac (6.23% weekly going to November 26 ) and like ratings from marketplace trackers. (Freddie Mac)

Fifteen-year fixed-rate mortgage:

5.5% on average nationwide. Current 30-year fixed rates are in the low to mid 6% range. That’s down from 7%, but still much higher than in 2020. levels.

What does this mean for an average borrower? If your current rate is over 7%, refinancing to the mid-6% range could lower your payments, especially if your credit or home value has improved. Lower payments can help your budget and free up money for other needs.

For first-time buyers, rates in the 6% range may seem high compared to 2020. But recent price drops in many markets can help offset these costs, making homes more affordable overall. The old price is $ 4,218. Spot gold is priced at $4,218 per ounce after reaching a six-week high, down 0.3%. Volume is slightly lower than yesterday, but open interest is rising, indicating new contracts are being opened. However, inflation is above 2%.

Continued strong demand from central banks and investors amid rising geopolitical and tariff risks.

Silver: Stealing the Show

Silver has surged to near-record levels, now just under $59 per ounce, more than double its previous price of $29.80.

Rampant demand for solar panels, EVs, and electronics.

Ongoing severe supply chain disruptions in London and other regions.

These price trends are particularly important for metals used in the housing and consumer product industries.

High silver prices are expected to increase costs for solar panels and electric vehicles, impacting:

Home solar versus system imports

DTI calculations during EV purchases.

Record gold prices underscore ongoing concerns about inflation. Persistent inflation may keep mortgage rates from falling as expected, potentially limiting improvements in affordability for homeowners and buyers.

There is increased demand for hard assets such as real estate.

LIVE ECONOMY: GROWTH, JOBS, & INFLATION Jobs: Some Slow Down, But Not A Collapse

Due to the current federal government shutdown, official BLS reports are limited. The Chicago Fed estimates unemployment is about 4.4% for October, the highest in about four years and a slight increase from September. The job market is showing signs of cooling. FS and job separations are at a small increase.

Context: The unemployment rate is ~4.0-4.1% for 2024. Thus, we are higher, but we aren’t at crisis levels. ([Bureau of Labor Statistics])

Growth & Inflation

U.S. GDP grew by about 2.8% in 2024. Growth of 1.7% to 2.0% is expected for 2025, indicating a slower but still positive trend.

The expected growth in the CPI is approximately 2.8%, which is slightly above the Fed’s target of 2% inflation for 2025.

Translating for Borrowers

The economy is growing, but at a slower pace.

* The Fed’s careful, rather than aggressive, approach to rate cuts.

* Long-term yields and mortgage rates are, for the moment, higher than what has been recorded over the past few years before COVID.

LIVE HOUSING & REAL ESTATE: COOLING PRICES, BUYER LEVERAGE

Sellers Cutting Prices as Market Cools

A new report highlights a shift in market leverage.

A weakening housing market is leading to significant discounts for buyers, as many sellers are cutting their asking prices to stay competitive. Many listings had price reductions in October. Homes that sell after a price cut stay on the market a median of five times longer than those priced right from the start. The number of delistings and price reductions is rising. Inventory levels are higher than those seen during the extremely tight conditions of the COVID-19 period.

By the end of 2025, buyers will have gained more control, especially in markets that overheated during the pandemic.

How Mortgage Rates And Price Cuts Affect Affordability

Prices are no longer on the rise as they were during the COVID period, and in some markets, they are either staying the same or experiencing small declines. (The World Property Journal)

Despite price cuts, buyers are affected by mortgage rates above 6%, resulting in much higher payments compared to 2020. GCA Forums Response:

First-time Buyers: How this market is different and what is in your favor:

More inventory to choose from

More price reductions

Less competition in the form of bidding wars on properties

In this market, careful underwriting is crucial to mitigate potential payment shocks resulting from current mortgage rates.

Move-up Buyers & Investors:

Home sellers may need to be more flexible on pricing or be prepared to offer concessions. Home buyers can benefit by negotiating closing costs with sellers. This can be combined with GCA’s flexible closing cost programs, which require manual underwriting and have no overlays.

WHAT THIS MEANS FOR MORTGAGES AND REAL ESTATE, SIMPLY PUT

1. Rates have improved. Rates have improved, but they are not yet at historically low levels. They have improved to the mid-6s, but the 3s are not in sight.

Current rates make refinancing 7% or 8% loans a worthwhile consideration.

2. The housing market is shifting from a strong seller’s market to a more balanced environment.

Lower prices, longer market times, increased inventory, and improved negotiating power for buyers. (The World Property Journal)

3. The Fed is worried about inflation and financial stability, not just growth

The Fed’s approach is measured and gradual, not a rapid decline. (Federal Reserve Bank of Atlanta)

4. Precious metals screaming inflation uncertainty

Gold=4200/oz. Gold at $4,200 per ounce and silver at $59 per ounce indicate continued investor interest. wers with issues (low credit, recent lates, high DTI)

Many large banks are tightening their lending standards. Lenders like Gustan Cho Associates are still losing aggressively within agency and non-QM guidelines, manual underwrites, Chapter 13, recent credit events, and more.

https://www.youtube.com/watch?v=vEVcnkjGVpk

NATIONAL BREAKING LIVE NEWS REPORT- MONDAY NOVEMBER 10 NOVEMBER 10 2025

GCA Forums News- Live Housing, Mortgage and Rates, Economy, Elections, and Political Crisis

• As of Monday evening, November 10 November 10, the country’s finances, mortgage rates, housing data, and politics have all been impacted simultaneously.
• Here is your GCA Forums focused LIVE national breaking news.
• Update concerning the LIVE stock market data, interest and mortgage rates, economic numbers, job data, and rapidly changing mortgage and housing forecasts, along with the fast-paced politics surrounding homebuyers and homeowners.

DOW JONES AND STOCK MARKET LIVE DATA AND FIGURESLIVE STOCK MARKET & DOW JONES, NASDAQ, SP 500 UPDATES

• As the government shutdown approaches resolution, Wall Street traders have shifted their focus to interest rate cuts, driving the market higher.

The figures as of the close on November 10, 2025:

DOW JONES INDUSTRIAL AVERAGE:

Marking another record zone, the closing total of the Dow achieved was 47,330.42, an increase from 46,996.71 on Friday.

LIVE S&P 500:

The S&P 500 finished this week at 6,817, a slight increase over the previous week.

LIVE NASDAQ:

• The tech-dominated Nasdaq Composite finished at 23,340, despite turbulence in tech stocks.
• Commentators are stating that stocks rallied on hopes that Congress is close to ending the shutdown and that inflation will be 3%.

LIVE MORTGAGE RATES & INTEREST RATESLIVE INTEREST RATES: 10-YEAR TREASURY YIELD

• About 4.1%, and throughout the days, it has remained around this interest rate.
• The 10-year US Treasury yield is considered the standard for 30-year fixed mortgage rates.
• The Fed and market trackers have recently indicated the rate is hovering around 4.11%.
• While this remains below the peaks observed in 2023-2024, it is still high enough to affect housing affordability for many purchasers, as well as to keep mortgage rates elevated.

LIVE MORTGAGE RATES TODAY – 30-YEAR AND 15-YEAR FIXED

• As of Bankrate’s daily survey for Monday, November 10, 2025: November 10-year fixed mortgage rate: 6.26%.
• Average 15-year fixed mortgage rate: 5.62%.
• Rates have increased this week as well, but remain under the peaks for late 2023 and early 2024.
• Lenders are closely monitoring reprices each time the Treasury yield shifts due to changes in inflation data and the Fed’s rate-cut expectations related to the headlines surrounding the shutdown.

To most GCA borrowers, specifically FHA, VA, non-QM, and DSCR investors, these levels indicate:

• The potential for payment shock after refinancing from the old loans is priced at 3% to 4%.
• More strained debt-to-income ratios, even in lower-cost regions.
• A sustained effort to pursue creative non-QM products, buy-downs, and APR temporaries instead of the non-existent “ideal” rate.”

REAL-TIME ECONOMIC INDICATORS: GDP, CPI, INFLATION, EMPLOYMENT

Real-Time GDP Economic Growth Update: The economy rebounds in 2025

• In the second quarter of 2025, the real GDP grew at a rebounding rate, rebounding from the contraction experienced in the previous quarter—Ced in 2025-Q1.
• This marks the beginning of recovery from the slump.
• Private economists, such as those at the Atlanta Fed, are predicting 4% GDP growth.
• Although progress remains slow, growth is evident.

Real-Time CPI and Inflation Update

• Most have anticipated September 2025 reports on the CPI to be released after the economy reopens, so that vital indicators could be measured.
• The CPI is most summarized at the Bureau of Economic Analysis’s assertion of 3% as of September.

Core CPI (excluding food and energy) year-over-year 3.0%

• The monthly CPI in September increased by 0.3%.
• This is sharper than the Fed’s 2% goal, but still a significant distance away from triple digits, which was the case during the past decade.

No matter how far the markers pivot, consumers still feel the pain:

• Food prices increased by 3.1% over the past year.
• Energy is mixed, but the cost of gasoline and other types increased a lot a few months ago.
• Shelter inflation is high, but prices remain very high for both renters and homeowners.

LIVE JOBS AND UNEMPLOYMENT NUMBERS

• The BLS jobs report for August is on hold due to the extended period needed for the shutdown.

The most recent complete report states:

• The unemployment rate in August 2025 was 4.3%.
• Nonfarm payrolls: In August, added a mere 22,000 jobs, indicating sluggish demand in the employment.
• The Chicago Fed reports that, given other economic and employment indicators, the unemployment rate for October 2025 is estimated to be 4.35-4.40%.
• This is the highest in central estimates of more than 4 years.

The combination of the extended period needed for the shutdown and the gently softening, but not crashing, job cycle heightens concern for:

• Slower wage growth.
• There is an increasing financial burden for lower-income earners.
• If the economic slowdown worsens, there will be an increase in delinquent payments and defaults on credit cards, automobiles, and possibly housing.

LIVE HOUSING AND MORTGAGE MARKET FORECASTSHOUSING MARKET LIVE: PRICES, INVENTORY, AND AFFORDABILITY

National housing data show a two-speed market:

• Many metropolitan areas continue to experience home prices at or near record highs, particularly in areas where inventory is limited.
• Higher mortgage rates and economic uncertainty are finally forcing some price cuts and longer days on market in marginal areas.

When it comes to 2025–2026 housing forecasts, most analysts continue to expect:

• Real estate prices are expected to remain relatively stable nationwide, while inflation-adjusted prices are likely to decrease.

Increased regional divergence:

• Demand for affordable housing in job-rich regions is expected to increase.
• Demand will decrease in high-tax, expensive regions and downtown areas.
• The higher demand for FHA, VA, non-QM, and DSCR investor loans is expected to persist as buyers continue to navigate through high interest rates and stringent bank underwriting.

This economic environment is helpful for **GCA borrowers in the following ways:

• FHA/VA manual underwriting, as well as non-QM, bank statement, and DSCR loans, will be easier to access for borrowers who do not meet the income thresholds for traditional bank loans.
• Monitoring property tax assessments and homeowners’ insurance, which are rapidly increasing as a proportion of the monthly mortgage payment.
• Pre-approvals and TBD underwriting for buyers will make it easier for them to lock in a purchase sooner.

LIVE AUTO MARKET: REPOSSESSIONS, CAR DEALERSHIPS, AND SKYROCKETING AUTO PRICES

Despite not having any new November repossession data, the earlier 2025 reports from the Fed and credit bureaus still show:

• Mortgage loans are in delinquency at the highest rate for borrowers with lower credit scores, among others.
• The institution offers auto loans to subprime borrowers under aggressive terms and has extended them for several years.

At the same time:

• Prices for new and used cars remain stubbornly high, despite having eased from the pandemic peak of 2020.
• The average new vehicle transaction price remains above the 2020 levels and is significantly higher than those of 2020.
• Additionally, records confirm that households are struggling, as those who are overextended are more likely to miss payments.
• Payments associated with vehicles are currently at an all-time high.
• Recent quarters have seen wholesale units hit and used chains, as well as big public dealerships from companies like CarMax, undergo increasing volatility in earnings receipts and borrowings due to diminishing wholesale costs and reluctant debtors.
• While “Billion in losses” headlines reflect the economic outlook, the structural weakness of the market and the auto finance market is the full story.
• This is an increasingly significant problem for outstanding consumer balances and lenders in the looming situation of rising unemployment.

The ticket prices of the precious metals live on moneymetals.com as of the moment are as follows:

• The wave of political anxiety as the shutdown approaches day 40 is starting to get more attention.
• As for today, November 10, 2025.
• November 10per ounce (LIVE GOLD): Around 4,080 to 4,110 per ounce, up around 2% on the day and more than 55% year-to-date, per various trackers.
• Silver price per ounce (LIVE SILVER): Hovered around 50 dollars, with several sources reporting 49.9 to 50.5 and about 3 to 4% gains today alone.

Gold and silver buying are being used to hedge against:

Government Shutdown.

• The possibility of mistaken policies regarding inflation and rate cuts.
• The political mess around immigration, sanctuary cities, and the New York mayoral transition.

Live Trump Administration on Government Shutdown and the Economy

Update on Government Policy: Deal Is Close, But Not Finished

• The country is in the midst of the longest federal government shutdown in US history, now lasting over 40 days.

Over the weekend and to Monday:

• The US Senate voted 60 to 40 to move forward with a compromise bill that funds the government until the end of January and provides back pay to federal workers.
• The contract guarantees a future vote on expanding subsidies for the Affordable Care Act, angering progressive Democrats who claim the party leadership caved.
• House members have now been instructed to prepare, as Speaker Mike Johnson plans to convene a special session on this bill.
• The Trump administration stated that the President disagreed and would be open to signing the bill, but continued to press Congress for more drastic alterations to health care subsidies and expenditures.
• Economists estimate that the shutdown is reducing the economy by approximately one-fourth of a quarter’s GDP, stifling the revenue of small contractors that rely on the government, and harming unpaid federal employees and the public who rely on these services.

LIVE POLITICAL NEWS: ICE, BORDER PATROL, AND SANCTUARY CITIES BORDER ENFORCEMENT AND SANCTUARY CITY CRACKDOWN

Increased immigration enforcement is a hallmark of the Trump administration:

• A new Executive Order 14287, Protecting American Communities from Criminal Aliens, and a Justice Department list of sanctuary jurisdictions center cities such as Chicago and Los Angeles under ICE’s fire for their restrictive cooperation policies.
• The administration has also used National Guard deployments into cities like Chicago, Los Angeles, Memphis, and Washington, D.C., under the guise of supporting the enforcement of crime and immigration, raising significant legal and civil liberties concerns.
• Concurrently, border data has undergone sharp changes.
• From claiming approximately 238,000 illegal border apprehensions in FY 2025, down from 2.1 million the previous year, DHS now boasts border encounters at their lowest annual level since the early 1970s.
• The new, post-2025 record low of **roughly 30,561 total encounters nationwide occurs in October 2025, with an 80% drop from 2024.
• Critics argue that these figures overlook humanitarian concerns and advocate for more intrusive enforcement methods. At the same time, the administration claims that the strategy is finally securing the border.

LIVE ELECTION NUMBERS: ZOHRAN MAMDANI ELECTED NEW YORK CITY MAYORFIRST DEMOCRATIC SOCIALIST MAYOR OF NEW YORK CITY

In the stunning upset of the week, Zohran Mamdni, a 34-year-old Democratic socialist and state assembly member from Queens, won the 2025 New York City mayoral election.

Important election figures:

• Zohran Mamdani (Democratic / Working Families): 50.4% of the votes.
• Andrew Cuomo (Independent Fight and Deliver): 41.6%.
• Curtis Sliwa (Republican): 7.1%.
• Voter turnout exceeded 2 million, which is the highest in decades.

Mamdani will be the:

• First Muslim and First South Asian mayor of New York City.
• The youngest mayor of the city in more than a century.
• First democratic socialist mayor of a major city in the US in contemporary times.

WHAT MAMDANI’S WIN MEANS FOR NATIONAL POLITICS AND THE TRUMP ADMINISTRATION

Mamdani had a very ambitious and aggressive agenda in his campaign that included:

• Rent freezes and stronger tenant protections.
• A minimum wage of $30 was instituted in the city.
• Wealthy taxpayers will have to share the burden of universal childcare, free bus transportation, and more affordable housing for low-income individuals.
• Nobody is more concerned than the moderates and conservatives.
• Many say he is the class warfare mayor, and they say capital will leave and public safety will decline.
• People like former congressman George Santos have publicly said they are leaving the city because of his evil agenda.

The attack on Mamdani is deeply symbolic of the Trump-Vance regime. This attack proves and reminds us that,

• There are unbridgeable cultural rifts that separate the largest cities in the country from the more conservative or neutral areas.
• Democratic socialist candidates have a reasonable chance of winning big office positions when the country is suffering from high housing costs and a wide income gap.
• The legal position of stripping Mamdani of citizenship has been suggested as an extreme response. According to legal experts, as reported by Al Jazeera, it is guaranteed to fail.
• Certainly, the harsh treatment of republicans is the only response that comes to their minds.

LIVE TURNING POINT USA UPDATE: CANDACE OWENS, ERIKA KIRK, AND JD VANCETHE CANDIDATE NARRATIVE

The conservative, youth wing of the movement called Turning Point USA has totally collapsed into itself with the assassination of their leader, Charlie Kirk, while speaking at Utah Valley University on September 10 September 10

• Candace Owens is in hot water after publishing a supposed leaked text in which Kirk is heard telling his friends that he is in danger and will be assassinated.
• Law enforcement has arrested a 22-year-old suspect, and while publicly dismissing the involvement of foreign governments, the speculation continues.

### ERIKA KIRK, JD VANCE, AND THE MEDIA STORM

Erika Kirk, Charlie Kirk’s widow, has surfaced:

• She is reportedly taking control of key TPUSA structures, as well as major fundraising arms.
• After saying that, she noticed a resemblance to her deceased spouse; there was a highly circulated emotional clip of her with Vice President JD Vance.
• They hugged at a memorial, sparking a great deal of discussion.
• Erika has called the criticism of her public grief and faith process brutal and unfair scrutiny.
• She hopes to be left alone and not have her actions and phrases scrutinized rigorously.
• Various social media angles have made attempts to fabricate personal scandalous allegations regarding some key conservative members.
• The major outlets have failed to produce any credible evidence; therefore, we will not engage in speculation.
• GCA Forums’ passion is verified reality, not internet hysteria.

LIVE GROCERY, CAR, AND COST-OF-LIVING PAIN

• Most households feel that inflation hasn’t stopped, even though the CPI has averaged 3% over the last year.
• Over the past year, food prices have increased by 3%, with prices for meats, poultry, fish, and eggs rising by more than 5%.
• Expenditures on electricity and gas have increased year on year, and fuel costs have recently spiked.
• Pending on cars in the absence of paid and unpaid overdue payments, alongside the increase in auto insurance packs, adds additional pressure.
• This translates into spending a lower portion of one’s income towards housing.
• Increased spending on debt, cash-out refinances, restructuring, and non-QM mortgages has become a common theme during consultations.

LIVE GUSTAN CHO ASSOCIATES AND SUBSIDIARY UPDATE

As other businesses are on hold, Gustan Cho Associates and its subsidiaries continue to operate in real-time on the front lines of the Capital and housing markets.

GCA FORUMS NEWS LIVE SNAPSHOT – NOVEMBER 1,0, 2025

FHA, VA, USDA, and Conventional Loans No Lender Overlays:

• Many banks have tightened their procedures.
• Overlays on borrowed money due to credit scores, debt-to-income ratios, and even manual underwriting are denial zones for an unprecedented number of banks.
• Not GCA: They continue to assist borrowers who are denied elsewhere.

Non-QM and DSCR Loans Increasingly Popular:

• Investors and self-employed borrowers squeezed by higher rates are turning to bank statement DSCR and alternative income products, and do not employ annual tax return underwriting.
• Neither do self-employed borrowers.

GCA Forums to Broaden Educational Boundary:

• GCA Forums is for daily live updates on housing, mortgages, and the economy.
• Stock market and Washington news are for traders and policymakers.
• GCA Forums News has a different model.
• GCA is for the rest of us.

Strive for Uncommonly High Fast Closing Ratios and TBD Underwriting:

• Gustan Cho Associates remains unwavering in its philosophy of TBD underwriting and fast close strategy, which favors GCA’s.
• It makes for a decisive choice on which property to buy.

WHAT THIS ALL MEANS FOR HOMEOWNERS AND HOME BUYERS

As of November 10, 2025, November 10 years to be in a bizarre concoction of these things:

• All-time high stock indices.
• All-time highs for gold and silver.
• Inflation remains at around 3 percent.
• A cooling job market and growing uncertainty.
• A housing market with high mortgage rates and scarce inventory.
• Political polarization and fierce immigration enforcement.
• Democratic socialist mayor-elect of New York City and conservative chaos at TPUSA.

The situation for borrowers and homeowners is easy to summarize:

• Stability is not guaranteed: Scheduling a home purchase based on anticipation of rate or home price changes is a poor idea.
• Winning is preparation: Tackle credit, gather documents, and investigate all possible financing options early.
• Knowledge is power: GCA participants can utilize Gustan Cho Associates and the GCA forums to assess live housing, mortgage, and macroeconomic events, obtaining timely evaluations.
• The members of Gustan Cho Associates are ready to work with you to explain how today’s live mortgage rates and live economic data, coupled with recent political shifts, can help you buy, refinance, or invest.
• We share real numbers—not headlines.

https://www.youtube.com/watch?v=UUYkiEEeox0

GCA Forums News – Tuesday, December 9, 2025

Daily Financial, Housing & Political Report for Homebuyers, Homeowners & Investors

LIVE MARKETS SNAPPED – Tuesday Midday. STOCKS

Late morning Eastern time, Tuesday, December 9, 2025.

• The DJIA is around 47,800, up about 0.2% (roughly 90 points).
• Investors are attempting to time the market as they await the Federal Reserve’s rate decision, despite the release of weak economic data.
• The S&P 500 is near 6,850, holding steady or slightly higher today.
• The Nasdaq Composite is near 23,550, slightly lower as investors take profits following recent gains in major technology stocks.
• Ahead of the Federal Reserve’s decision, many traders are taking a wait-and-see approach.
• Most expect a 0.25% rate cut, while recent labor market data shows some softening, even as inflation persists.

LIVE PRECIOUS METALS – GOLD & SILVER

Demand for safe-haven assets is rising because of geopolitical tensions among manufacturers, ongoing disputes over the Epstein files, and uncertainty about tariffs.

• Gold (Dec 2025 futures): ~ $4200/oz (last check 4,198.90, +0.28% for the day). ([The Wall Street Journal][5])
• Silver (spot) is about $60 per ounce (live spot was $60.05 at 10:37 a.m. ET), with prices ranging from $58 to $60 this week.

For borrowers & investors

• Elevated gold and silver prices show ongoing concerns about inflation, political uncertainty, and global instability, despite improving inflation data.
• For real estate investors, high silver and gold prices, combined with a risk-hedging mindset, often lead to increased interest in acquiring hard assets, such as real estate, particularly cash-flowing rentals with DSCR and non-QM financing.

LIVE ECONOMIC DATA & TARIFF IMPACT ON THE U.S. ECONOMY: Inflation, Jobs, and Economic Growth

January macro data releases highlighted the following:

• Core PCE inflation: about 2.8–3.0% YOY, the fastest in about 1 ½ years.
• Unemployment rate: about 4.4%. While higher than historic lows, this rate remains moderate. Consumer spending is slowing, with real spending in September flat after a 0.2% increase in August, as higher prices and tighter budgets impact lower- and middle-income households.

Economists increasingly describe this as a “K-shaped economy.” High-income households continue to spend, while middle- and lower-income families are cutting back and struggling to afford essentials such as food, rent, and energy. These groups are also the primary applicants for FHA, VA, and first-time homebuyer loans.

The Fed and the Effect of Tariffs on Prices

A significant body of research confirms that the 2025 tariff increases are contributing measurably to inflation:

• This year, a Fed St. Louis policymaker warned that Trump’s existing and proposed tariffs could add approximately 1.2% to the Fed’s inflation target, after some “second-round” effects have worked their way through the economy.
• PIMCO, the Tax Foundation, and other private sector analysts have estimated that a significant proportion (approximately 40–50%) of tariffs is eventually passed on to consumers, which translates to $1,000–$1,200, corresponding to higher prices on imported goods.
• Reports on consumer spending indicate that prices for household goods contribute significantly to high inflation, particularly for furnishings and clothing.
• Services inflation tends to be lower.
• More mortgage insight for borrowers and homeowners: tariffs make inflation harder to bring down, which could slow rate cuts.
• If tariff-driven inflation prevents the Fed from acting, mortgage rates and long-term bond yields may remain high for an extended period, even as the economy slows.
• Households already dealing with high inflation on food, fuel, and goods have less ability to handle higher mortgage payments, which affects their DTI ratios and chances of loan approval.

Now, let’s look at what borrowers are seeing with mortgage rates in today’s market.

National averages change daily, weekly, and monthly, but as of today:

• 30-year fixed conforming: ~ 6.30%, as stated by major rate trackers such as WSJ/Bankrate, which is the national average.
• 15-year FHA, 30-year fixed, and VA loans usually have slightly lower rates, but higher MIP or funding fees.
• Current estimates are around 5% to 6% for well-qualified borrowers.
• Jumbo, non-QM, and DSCR investor loans usually have interest rates 1-3% higher than prime conforming loans.
• The rate depends on credit score, LTV, reserves, and documentation type.
• Most of this difference stems from risk-based pricing, rather than daily averages.

For readers of GCA Forums:

• Borrowers with credit scores of 580 or 619, recent credit issues, or non-traditional income will likely get higher rate quotes than the national average.
• Still, DSCR refinances and non-QM loans are being approved at rates much lower than recent hard-money rates (15-20% or more).
• Another mini-refi wave may occur for borrowers with high mortgages of 7-8% from 2023 to 2024 if the Fed plans to cut rates, even slightly, while inflation continues to decline.

Housing real estate CHECK: PRICES, GAS, AND BUILDING COSTS

Home Prices Plateau High

Home prices in many major metropolitan areas remain well above pre-COVID levels.

The latest S&P CoreLogic Case-Shiller Index shows national home sale prices just below their all-time highs, but prices have leveled off in recent months.

Post-COVID home prices remain high, even as mortgage rates decrease from their peak.

There are fewer bidding wars in real estate markets than in 2021-2022.

• While some say prices have “crashed,” mortgage affordability still depends on the rate, taxes, insurance, and the home’s sale price.

Gas Prices Are a Little Lower Nationally, with the average at just below $3.00 per gallon, according to AAA, which reports a nationwide average of $2.95 per gallon. This is the lowest average in over four years.

Lower gas prices allow some consumers to spend more freely and may improve the DTI ratios of borrowers who are close to qualifying. The extra cash flow from reduced fuel costs can benefit some households.

Tariffs, construction, and housing costs

Builders and remodels continue to report higher material costs, including steel, aluminum, and some imported components. These increases are driven by tariffs and supply chain delays. Research from housing and construction economic think tanks indicates that tariffs on construction goods increase project costs, slow new construction, and limit inventory, particularly in areas with existing supply constraints. For homebuyers, low inventory and steady demand keep prices elevated, even when mortgage rates are high.

LEGAL AND POLITICAL CONTROVERSIES: PATEL, BONGINO, BONDI AND THE EPSTEIN FILESKash Patel: FBI Director & Facing Allegations Over Jet, SWAT, & Girlfriend’s Protection

FBI Director Kash Patel is facing criticism regarding his use of Bureau assets. Reports concerning country singer Alexis Wilkins, whom Patel is dating, state that: as the People and other media summarized,

Commanding agents tasked with Wilkins to escort an inebriated classmate to the vehicle after a night at a bar in Nashville, and

Assigning SWAT-trained personnel to Wilkins’ security detail, thereby removing them from the local field office, and

Using a $60 million FBI jet to travel to Pennsylvania, during the time he is attending a wrestling match, in which Wilkins is the national anthem vocalist, 2 years after he criticized his predecessor for attending events with government aircraft.

• While the FBI has conceded at least some of those specifics, it has not acknowledged the allegations that the Bureau’s resources were misappropriated, nor has it questioned Patel’s sound judgment.
• Former agents, as cited in the articles, have described the use of aircraft and security details as unprofessional and indicative of inexperience.
• Advocates for civil liberties and oversight are calling for the FBI to allocate resources for congressional inquiries.

Dan Bongino: Deputy FBI Director Facing Internal Doubts

Bongino has become a highly controversial figure, particularly in his current role as Deputy Director of the FBI. As a former Secret Service agent and right-wing commentator, many question his suitability for the position, including:

• Reports from Axios and ABC News indicate that Bongino has had conflicts with Attorney General Pam Bondi regarding the Epstein Files Transparency Act, specifically concerning what the Attorney General should release to the public and the extent to which the documents should be redacted.
• According to The Guardian, some critics, both inside and outside the Bureau, view him as unqualified and too partisan.
• He is the first deputy director in FBI history without a background as an agent and has built a public image by promoting conspiracy theories, including claims about a “deep state” and election fraud.
• Reports indicate Bongino was demoted to “co-deputy director” due to the Epstein files issue last summer, which may have reduced his influence within the administration.

The Attorney General, Pam Bondi, has also been criticized from both sides of the aisle for her handling of the Epstein Files:

• She initially claimed that a “client list” was supposed to be on her desk, but later, the DOJ sent a memo affirming that no such document exists and that there would be no further updates—sparking fury from MAGA activists and politiTrump publicly defends Bondi, stating she is doing a “FANTASTIC JOB,” but several reports suggest he has been privately frustrated by criticism from his supporters. The release of grand jury documents under the new transparency law adds pressure on Bondi and the FBI to carefully consider what information to release next, if any. if any.

Are Patel, Bongino, and Bondi “on their way out”?

There is apparently significant internal strife:

• Bondi is under pressure to resign from some of the MAGA base.
• Bongino has already been demoted and is in constant conflict with DOJ management.
• Patel is under ethics scrutiny for the use of Bureau assets.
• So far, neither the White House nor the DOJ has made any official statement about removing any of the three from their positions.
• While their political standing appears to be weakening, talk of them being “on their way out” remains just speculation.
• If you have heard any rumors around town regarding Erika Kirk and Vice President JD Vance, you are not alone.
• Are there rumors surrounding Vance and Kirk concerning a pregnancy and Vance being the father of the child?
• Are there rumors suggesting that Vance is involved in a pregnancy and popular podcasters are discussing it?

What Was Caught on Film

The start of the whispers:

• On October 29, 2025, Charlie Kirk’s widow, Erika Kirk, currently the CEO of TPUSA, introduced Vice President JD Vance at a TPUSA event held at the University of Mississippi.
• Just weeks after Charlie’s assassination, they shared an emotional hug on stage.
• A lip reader said Vance told Erika, “I’m proud of you.”
• She replied, ‘It’s not going to bring him back.’
• Erika explained her attraction to Vance by saying that physical touch is her primary love language.
• She often expresses this by touching people’s heads or necks and saying, “God bless you.”

Independent fact checkers and mainstream publications have now addressed the rumors of the affair directly:

• Snopes looked into what social media posts speculating an affair and concluded that there is “no evidence” of Erika Kirk and JD Vance having an affair.
• The rumors stem from out-of-context videos and speculation, without any factual basis. The posts that went viral claimed Erika is “8 weeks pregnant” with Vance’s child.
• Hindustan Times clearly called the pregnancy claim false, quoting her as saying she wants more children, but in the future.
• JD Vance said he and his wife have a great marriage, are not worried about the rumors, and have just been having some fun with the negative comments.

JD Vance and Usha Vance

• The Vance couple has been most affected by the rumors and allegations.
• Once again, J.D. Vance feels the need to address the love he has for Usha Vance by mentioning his marriage to Usha.
• Even Vance knows and has addressed the speculation of his marriage to Usha.
• The Vance couple has been most affected by the rumors and allegations on the Internet.
• J.D. Vance feels the need to address the love he has for Usha Vance by mentioning his marriage to Usha.
• Vance is aware of the speculation.
• Social media is filled with memes, body language analyses, and unfounded theories about the hug, as well as claims that Usha Vance was not wearing a wedding ring.
• Nothing of conjecture, four of conjecture of social media activities and engagement, and none of them point to Usha Vance’s ring to have been a wedding.
• Such speculation about Vance and Usha’s marriage rumors refers to rumors about Vance’s marriage.
• The GCA forums editorial expresses the facts based on her marriage and allegations regarding J.D. Vance, suggesting a conspiracy relation between Vance.
• Currently, the situation is dominated by gossip and bias fueled by online speculation. mortgages and housing, the main point is this: if viral gossip spreads about you, treat it like a clickbait housing headline. Ignore it and stay focused on verified facts and your financial plan.

WENS VS. ERIKA KIRK – CONSERVATIVE CIVIL WAR IN PROGRESS

You also asked about Candace Owens’ criticisms of Erika Kirk. Their feud has become a topic of discussion in conservative media.

What Owens is saying

• Candace Owens has, on multiple occasions, since the weekend shooting of Charlie Kirk, been using her podcast and social media to question:
• • How has TPUSA been managing the shooting?
  • What are the internal leadership circumstances?
  • Why is Erika Kirk our CEO?
  • Why has Erika been so open on social media, and is now so open, and is it because of the shooting?
• Owens has suggested assassination conspiracy theories, possibly from foreign sources. Erika has downplayed these, saying people are free to criticize while grieving because “everyone grieves differently.” She also warned that speculation could hurt her family, their grief, or the movement as a whole.
• However, there have been no significant new developments from the other side, and Owens has only become more vocal in her criticism. She now questions whether Erika should remain president of TPUSA and has raised concerns about some donors, responding to Owens’ suggestion of a public livestream debate with TPUSA leadership.

How Erika and others are responding

• Erika has begun responding in more detail during interviews and on social media, defending her leadership and saying that Owens is being hurtful and unhelpful to Charlie’s cause.
• Other conservative voices, such as Allie Beth Stuckey, have pointed out that Owens’ theories lack documentation and appear to be based solely on assumptions and correlations.
• This feud is relevant to GCA Forums readers because TPUSA, its influencers, and MAGA media personalities have a significant impact on young voters and may influence housing demand in the Sun Belt and college towns.
• Bandonment of sub-seating economic and housing policy, all the while the real burdens of rent payments, mortgage down payments, and student loan debt remain.

THE ISSUES AT HAND – CONSUMER PROTECTION, GCA MEMBERS, & HOMEOWNERS AT LARGERates & inflation –

• Tariffs are adding price pressure, and a cautious Federal Reserve means mortgage rates are higher than in a typical scenario of a soft landing.
• Credit, income, and program selection (FHA, VA, or non-QM) are more important than ever.

Household budgets

Cheaper fuel prices help alleviate some of the pain.

However, increased spending on imported goods, clothing, and expensive durable items makes it more difficult for lower-income families to maintain their budgets, particularly those who rely on FHA, VA, USDA, and down-payment assistance programs.

Political volatility

Scandals involving Patel, Bongino, Bondi, and the public dispute over the Epstein files are fueling mistrust in institutions, including those regulating housing and lending. Increased oversight can delay or complicate efforts to streamline policies on QM and non-QM loans, bank capital rules, and fair lending.

Media Over-Dramatization vs. Actual Viral Stories: Erika Kirk, JD Vance, and Candace Owens Attract Significant Attention and Generate Revenue, but They Do Not Affect Key Metrics, Such as Employment

Can you document your assets and reserves?

What payment fits comfortably inside your budget, even if taxes and insurance rise?

GCA continues to monitor live markets, mortgage rates, and policy changes, enabling borrowers to bypass distractions and make informed decisions to buy, refinance, or invest, even amid ongoing media and global events.

https://www.youtube.com/watch?v=WUjQjhxTZJk

• This discussion was modified 2 months ago by  Sapna Sharma.

GCA Forums News – Monday, December 8, 2025

Powered by Gustan Cho Associates – LIVE Markets, Mortgage & Political Watch

LIVE MARKETS & ECONOMIC SNAPSHOT

Wall Street today (market close, Monday)

All three major U.S. stock indices dropped today as investors await this week’s key Federal Reserve rate decision.

Dow Jones Industrial Average: 47,739.32, -0.45% on the day.

S&P 500: 6,846.51, -0.35%.

Nasdaq Composite: 23,545.90, -0.14%.

Traders expect a 25-basis-point Fed rate cut at the upcoming meeting, with CME Fed Watch indicating a 90% chance.

Key rate benchmark – 10-Year Treasury

The 10-year Treasury yield is now about 4.14%, just above last session’s 4.11% and slightly below the long-term average of 4.25%.

The previous session saw higher returns, which put more pressure on stocks and continued to affect mortgage rates and borrowing costs.

PRECIOUS METALS – GOLD & SILVER Metals, especially gold and silver, are expected to remain in the spotlight throughout 2025.25.

Gold

Earlier today, gold spot prices ranged from $4,200 to $4,210 per ounce.

Reuters reports that gold prices rose about 0.5% today to $4,215.69 per ounce, as many expect a Federal Reserve rate cut.

JM Bullion’s Gold Live shows that gold prices in the late afternoon tend to settle around $4,204 per ounce.

Silver prices are relatively stable, with prices earlier this morning around $58.19 per ounce, according to Fortune.

JM Bullion’s real-time data shows the spot price of silver at $58.39 per ounce as of 5:31 PM ET.

Silver’s value has nearly doubled this year and is now just below its previous all-time high of $59.

When the dollar weakens, the prices of gold and silver typically rise. anticipated Federal Reserve rate cuts and geopolitical tensions, a weaker dollar is expected in the upcoming months. This is the primary driver of the current high prices of gold and silver. Additionally, the high pricing of Gold and Silver is typically accompanied by long-term inflation and a lower real yield, indicating that this trend is likely to persist over the next 6 to 18 months. This has a particular significance regarding the direction of mortgage rates in the near future.

LIVE MORTGAGE & INTEREST RATES Multiple national surveys are closely aligned today: mortgage (national average):

6.28~6.36%

Bankrate: 6.28% rate (30-yr fixed) in today’s daily survey.

Mortgage News Daily composite index:

6.36% for 30-yr fixed as of 12/8/2025.

GCA Forums News also reports 6.28% today.

15-year fixed: about 5.6~5.7%

Refinance 30-year APR: 6.7% according to Bankrate’s refinance index.

GCA Forums News Borrower angle: Current rates are much lower than the 8% highs from earlier this year, but still well above the lows seen during the pandemic. Borrowers may feel some relief compared to recent months, but homes remain less affordable than at the peak of low rates. Borrowers with strong credit applying for FHA, VA, or conventional loans may qualify for rates slightly below today’s national averages. Those with lower credit scores, higher debt-to-income ratios, or seeking Non-QM products should expect higher rates based on risk and loan type.

HOUSING & REAL ESTATE: LATEST DATA: Existing-home sales (NAR – October 2025, latest available)

Sales 4.10 million SAAR, +1.2% month-over-month, +1.7% year-over-year.

Inventory 1.52 million units, about 4.4 months’ supply.

Median price: $415,200, representing a 2.1% increase year-over-year.

Home prices – Case-Shiller index

US National Home Price Index (NSA): For September 2025, the home price index reached 328.94.

Recent peaks are exceeded.

The Twenty-city Composite is down slightly from all-time September highs.

Takeaways for GCA Forums News Readers:

Sales volumes are starting to stabilize, but they are still not back to the levels seen during the 2019-2021 boom years.

Home prices remain high because inventory is tight, metal and equity wealth are strong, and prices are near record levels.

Lower 6% interest rates, rather than 8% are provoking more refinance requests (both rate/term and cash-out), as well as renewed interest, particularly in cases where it’s possible for DSCR and Non-QM products.

Federal Reserve & Economic Background

Reuters reports market participants are focused on this week’s Fed decision and its impact.

Traders expect a 25 bps cut; attention shifts to the Fed’s dot plot and Powell. Investors should be careful about market price changes that don’t match what is expected from the Fed’s decisions and outcomes.

Vance, and Kirk, What Do We Know? Setting the Stage

Recent events have drawn attention due to viral videos capturing JD Vance’s gesture of support, following the Hug, Domin, and Kirk format, with community members and individuals with Christian values.

Probably because there was a TSPUSA event a few weeks following the assassination, where there was a group of people that included Christian nationalists and TSPUSA members or TSPUSA sympathizers.

There has been internet discussion interpreting the hug as reflecting intimacy, based on body language and timing after Charlie’s passing.

Speculation further arose because some People and less engaged users assumed the picture of Usha Vance without her wedding ring at another of her public appearances at Camp Lejeune was connected to the hug video.

Are JD Vance & Erika Kirk having an affair? Mainstream and fact-checking organizations have clarified the following:

Snopes and other fact-checking organizations, after reviewing the corresponding videos and photos, have found no evidence of an affair between JD Vance and Erika Kirk.

Analyzing the hug video, there was an overall lack of intimacy, except for an extended embrace in a moment of high emotion.

JD Vance has purportedly responded,

In an interview with People magazine, Vance claimed that he and Usha take pleasure in the viral speculation.

He stated their marriage has remained strong and addressed the gesture with Erika as a demonstration of emotional support after the assassination.

Erika has claimed separately that her love language is touch and defended the hug as a response to grief, not a romantic one.

Bottom line: There is no credible evidence that JD Vance and Erika Kirk are having an affair.

In this phase, the social media claims are unproven, and the most reputable fact-checkers tag this as false.

Pregnancy and the ‘JD is the father’ claims.

You specifically brought concerns regarding the rumor of Erika being pregnant and that JD Vance is the one responsible.

This is the most verified reporting, as we say in the journalism industry.

Viral posts claim Erika is 8 weeks pregnant and that Charlie Kirk had died 10–11 weeks beforehand, interlacing that timeline to insinuate possible cheating and/or JD’s infertility.

Numerous other platforms, including Hindustan Times and other European countries, assert that:

In several interviews, Erika has said clearly, I am not pregnant.

The line from her stating that she was 8 weeks pregnant has been interpreted incorrectly or out of context, as she referred to wishing she had been pregnant in correlation to when Charlie was killed.

No medical records or public statements, nor any legitimate source, have been documented to support the assertion that JD is the father or even that there is a pregnancy at all.

As for the JD, the father rumor:

This rumor has appeared online and has been described by multiple sources as lacking a credible basis.

The press, in reporting this idea, aims to expose the lack of evidence surrounding the rumor, rather than support it.

Based on the current evidence, this claim has almost no value. It is just a rumor without proof.

KASH PATEL & DAN BONGINO – FACING AN OPEN FIGHT WITH THE FBI: Patel & FBI Controversy: Multiple outlets are reporting on the suspected misuse of FBI assets and employees related to Kash Patel and his girlfriend, country singer Alexis Wilkins:

Security detail used as a rideshare.

MS Now, People, and others say Patel supposedly instructed Wilkins’ FBI leaders to drive one of her supposedly drunk friends home after she had been out for the evening in Nashville.

Sometimes the agents would drive her friends home.

Use of FBI SWAT & Jet for Personal Travels: Other reporting in The Times, The Daily Beast, and The Independent outlines the allegations against Patel that:

Wielded a SWAT team as Wilkins’ personal security during her stage performances.

Resorts and other related events.

Used a FBI jet that costs taxpayers almost 60 million dollars to travel to concerts, play golf, and go to retreats with Wilkins, whose critics are calling the trips “joyrides.”

His Response and Current Role with the FBI.

Patel and an FBI spokesman are NOT denying parts of the claims that the other FBI employees are reporting.

One spokesman has called the allegations “one thousand percent false.”

Patel argues that he is “entitled to a personal life.” which implies that the accusations against him and Wilkins are defamation of character.

Congressional Democrats, on the other hand, have initiated preliminary inquiries into his appropriation of aircraft and protection resources.

However, some of the more dramatic stories on social media, like reports of flight temper tantrums or petty demands, are not found in major media coverage and remain unimportant.

Dan Bongino’s Position and the FBI’s Internal Structures and Morale

Dan Bongino has served as Deputy Director of the FBI since March 1, 2023.

A lot of people who were in the FBI expect him to have some prior FBI experience before serving in the position.

Bongino has experience working in the NYPD and the Secret Service before transitioning to being a conservative media figure.

Recent Internal Morale Reports about Dan Bongino:

A report from the National News Desk, shared by many local TV stations, says some rank-and-file staff be the Patel–Bongino team as overwhelmed and view Bongino as not taking the job seriously.

ProPublica reports that Patel waived the polygraph requirements for Bongino and two other senior appointees, allowing them to gain access to classified information that they would not have received under the standard polygraph requirements.

Have come to believe that many of the claims made against them have not led to criminal charges.

This suggests that some agents and lawmakers think the Bureau’s leadership is unstable, which makes it harder to manage and supervise federal financial crime and mortgage fraud investigations.

CANDACE OWENS VS ERIKA KIRK – ONGOING FEUD

Specifically, why do you point out Candace Owens’ continued critique of Erika Kirk?

The state of documented reality is this:

For a little over a month, Owens has been conducting a public “inquiry on Charlie Kirk’s death and the administration and the finances of Turning Point USA (TPUSA), where Erika is now the CEO.

Recently, coverage from India Times, Hindustan Times, and Barrett Media has written of Owens accusing TPUSA and Erika of:

Having financial records withheld, including supposed transfers of $8.5M to a shell entity (these records, which she claims, remain unverified as of yet).

Betraying Kirk by covering the vital details of security negligence from the assassination of Kirk at his Utah event.

Poorly managing an attempted TPUSA livestream that would have been used to alleviate the concerns around his death, and often asked, was it Erika who gave the green light or wrote what is deemed to be the controversial” messages?

Owens has faced criticism, even from some right-wing supporters, for questioning what “kind of a widow” would act as Erika has.

And now:

Owens claims she still wishes to appear in a TPUSA event where she could address her concerns publicly. Some media claim she is attempting to settle the details of an appearance.

The present situation is as follows:

Owens’ claims, though substantial, rest upon allegations and theories:

Right-of-center media has Erika Kirk, JD Vance, Joe Rogan, and TPUSA management embroiled in an intra-movement struggle over transparency, allegiance, and conspiratorial musings.

JOE ROGAN

You specifically referenced Joe Rogan.

Rogan was a guest on JD Vance’s episode of The Joe Rogan Experience in 2024, well before the current controversy.

Since the recent assassination of Charlie Kirk, a new YouTube and social media phenomenon has emerged in the form of Joe Rogan reacting to Erika Kirk & JD Vance’s dating rumors and Joe Rogan getting suspicious after consulting a body language expert.

Most of this content:

Gossip commentary rather than an actual job. Most of this is gossip and commentary, not real journalism. Combined to create an article without any original reporting or primary sources.

I did not see any credible news outlet that asserts that Rogan has any proof of an affair or a child; he seems to focus his reporting on how his guests on that episode and the rest of his show react to the existing rumors.

WHAT THIS ALL MEANS FOR GCA FORUMS READERS

From a mortgage and real estate perspective:

Rates: Average 30-year fixed rates in the low 6% range mean buyers have less power than in 2020–2021, but things are better than at this fall’s peak.

For borrowers with rates between 7.5% and 8.5%, this could be a good time to consider rate-and-term or cash-out refinancing. fundamentals: A slightly better performance in existing home sales, coupled with still elevated readings from the Case-Shiller index, indicates that the market is cooling but not crashing.

Prices have support as inventory remains tight.

Macro Guardrails: Gold and silver are near record highs, reflecting the ongoing political turmoil at the FBI and increased conflicts within conservative circles.

These factors usually create a highly uncertain environment a backdrop encourages flight to hard assets like real estate.

This is especially true for those investors using DSCR and Non-QM structures.

The real, measurable story today is found in the market data above.

As for the sensational gossip surrounding JD Vance, Erika Kirk, Kash Patel, Dan Bongino, Candace Owens, and Joe Rogan, these stories remain unverified rumors.

Mainstream sources are fact-checking and rejecting the more dramatic claims about pregnancy, paternity, and confirmed affairs. Yury Note prices as of December 8, 2028, are derived from reports from Reuters, YCharts, and JM Bullion prices.

Current and historical prices are available for all financial products being offered in today’s ever-changing marketplace.

Silver has reached record prices in the past and can still be obtained as an investment for a fraction of its current value.

The current and rising prices of gold, along with daily calculated margins, can be obtained from numerous financial providers.

Current prices for gold and silver are available in a range of marketplace products.

Silver prices can be calculated for some providers of marketplace products. Mortgage rates, reports from BankRate, NAR, and Trading Economics.

Gold rises as the dollar softens, with investors bracing for a potential Fed rate cut.

Treasury yields fall, gold prices rise, while the dollar weakens.

Mortgage rates increase in advance of the meeting.

Silver reaches record prices. Gold prices are historically high and continue to increase daily.

Silver prices, which increase monthly, are calculated from historical daily prices effortlessly obtained from numerous financial providers.

Current prices for gold and silver are available in a range of marketplace products in today’s ever-changing marketplace.

https://www.youtube.com/watch?v=lwwrqNedoMg

• This discussion was modified 3 months, 1 week ago by  Dawn.

GCA FORUMS NEWS: Weekly Breakdown On A National Scale

Monday, November 30, through Sunday, December

Provided as a courtesy by Gustan Cho Associates & Subsidiaries

Here are the key updates in mortgage, real estate, politics, and policy that matter most to GCA Forums members, including homebuyers, homeowners, and real estate investors.

LIVE MARKETS WRAP – STOCKS & INDEXES MARKETS UPDATE Equities:

Stocks fell at the start of November as the technology and cryptocurrency sectors sold off. The Dow dropped about 40 points, while the Nasdaq and S&P 500 both fell around 20 percent.

On Friday, December 5, Wall Street closed moderately higher after inflation data suggested a possible Federal Reserve rate cut.

Week of 12 December

General market conditions and reports from the Federal Reserve show that most major analysts are optimistic, driven by:

Recent inflation reports are lower than the expectations of major market analysts and projected inflation.

The long-term Treasury bond yield is decreasing.

There is a greater chance of another Federal Reserve interest rate cut in December, which would be the third in four months.

Forbes

The market is optimistic, thanks to the position. The market remains optimistic due to positive forecasts for money markets and inflation:

The weekly initial jobless claims report came out with an initial value of 191,000, the lowest initial report in three years, indicating a still-healthy job market, even as the job market continues to cool down in three sectors.

The third-quarter consumer report shows a positive trend, though spending is growing at a slower pace.

This indicates that the economy suggests the economy is cooling, even though overall spending is still rising, vesting with GCA Forums:

The market anticipates that The market expects the Federal Reserve to finish its tightening cycle soon and begin easing rates on mortgages and stocks.

LIVE MORTGAGE & INTEREST RATE SNAPSHOT This week (U.S.) overall average: 30-Year Fixed Rate:

December 4 (Thursday): 6.19% compared to the prior week, 6.23% and is the second week in a row (decrease).

15-Year Fixed Rate:

5.44% compared to the prior week, 5.51%

Snapshot of daily retail rates:

Survey of Bank Rate (December 7, 2023)

30-Year Fixed Purchase APR is 6.3-6.4%

30-Year Fixed ReFi APR is 6.7%

Zillow Home Loans (December 7 for borrowing customers who qualify:

30-Year Fixed Rate of 5.99% (6.17% APR)

15-Year Fixed Rate of 5.375%

Take Gains with GCA Forums News Borrowers and Investors

7% was the peak mortgage interest rate earlier in 2025, and the currenEarlier in 2025, mortgage rates peaked at 7%. The current national average is just above 6%, and some lenders offer 6% rates to borrowers with lower credit scores.imarily for:

Those Investors with hard money loans at 14% or higher.

FHA and VA borrowers who were previously unable to access funds when rates increased.

Most Place Predictions for 2026 at approx 30-year rates averaging the lMost predictions for 2026 expect 30-year mortgage rates to average in the low 6 percent range, with little chance of returning to 3–4 percent. a dramatic week for precious metals, a week vital for investors wanting to hedge against inflation:

Gold:

Approximately $4,200/oz late in the day, Gold reached about $4,200 per ounce late in the week, with spot gold rising to $4,212 on Friday, up 1% for the day but down 0.4% for the week as investors took profits ahead of the Fed meeting the star at around the high $50 range per ounce, but was also invested in at record highs.

This physical demand collided with a strong physical demand met with a widely available supply system for silver.is week not only reaffirmed gold and silver but also positioned itself to trade as a hedge against inflation, as well as confirmed expectations ranged for in 2026 as the Fed system eased to a more “real yield” for silver and gold.

LIVE FEDERAL RESERVE & ECONOMIC POLICY

The Federal Open Market Committee (FOMC) meets on December 10, and the market is pricing in another 0.25% decrease in interest rates, following two cuts earlier in the year.

Cleveland Fed’s Inflation Nowcasting predicts **December core inflation to be 0.24-0.27% month-on-month indicating inflation is trending down but still deviating from pre-2021 norms.

In conjunction with:

Very low initial jobless claims.

Moderating consumer spending.

The Fed is attempting to achieve a soft landing, aiming to act. The Fed is trying to achieve a soft landing by slowing growth and lowering inflation without causing a deep recession. December 10 and suggestions of more cuts to come would mean:

Continued downward pressure. Mortgage rates are likely to keep falling, especially with the 10-year Treasury yield at or below 4.0–4.1%.n 2026 for borrowers currently locked in at interest rates in the upper 6’s to 7’s.

LIVE HOUSING, REAL ESTATE & MORTGAGE NEWS

Several housing indicators presented good news for buyers this week:

In the overview for the housing market for December, the following were noted:

Mortgage rates are down.

There are more homes for sale.

The market is moving at a slower, more manageable pace compared to what was expected in 2024. Ends for the week from realtor.com noted:

There is plenty of inventory.

List prices are starting to soften.

Buyers now have more power to negotiate sale prices, obtain price reductions, and request concessions due to current inflation.

Several research groups anticipate that, in 2026, the “Great Housing Reset” will result in:

The market is expected to become increasingly affordable over time.

Mortgages will be in the low 6% range.

Home sales are expected to become more stable and improve slightly, with no market crash predicted.

GCA Forums Members:

This is the thIng this environment, strong lenders with flexible programs like FHA, VA, Non-QM, DSCR, and bank-statement loans will help buyers and investors benefit from lower prices, even as rates return to normal levels. You see more seller-paid closing costs and rate buydowns in many markets, which will be beneficial for FHA, VA, and conventional buyers trying to purchase a home with limited cash.

LIVE POLITICAL & LEGAL NEWS – LETITIA JAMES & JAMES COMEY: New York Attorney General Letitia James

James had the mortgage-fraud case against her dismissed last week. The grand jury declined to re-indict her, effectively shutting down the Justice Department’s latest attempts to add other allegations.

Legally, this is not a jury ‘acquittal’ after trial, but in practice:

The case has been dismissed, and the prosecutors were unable to convince a new grand jury to proceed with the case.

As of now, James has a clean record in this case and will keep it unless a new case is brought.

Director James Comey

An early criminal case that claimed James Comey had filed a statement with Congress regarding media leaks and had committed perjury was dismissed on November 24, as the special prosecutor had been unlawfully appointed.

A few days ago, a federal judge granted a temporary restraining order against the use of any evidence obtained through the alleged illegal seizure of data from Daniel Richman, Comey’s former attorney and confidant, as it appears that the government may have accessed the data illegally.

Once again, to be clear, this is not a formal jury acquittal, but rather a dismissal of the charges, coupled with increased restrictions on the government’s use of certain evidence, will undoubtedly make it exceedingly difficult for the government to open a new case on this matter.

LATEST SANCTUARY CITY AND IMMIGRATION UPDATES: Sanctuary city policy and immigration were in the news all week:

The Department of Homeland Security report on December 1 said “Sanctuary New York” removed almost 7,000 noncitizen criminal offenders and violent offenders from New York, and the city didn’t cooperate with ICE removals.

An Axios report on Modification of the Immigrant Sanctuary Policy (MSIP) discussed “Sanctuary Cities 2.0,” which refers to the mayors of the cities pushing back against the escalated immigration enforcement actions and threatening to cut funds. This marks the beginning of yet another round of contentious federal–local conflict detention, and there is certainly no cooperation with ICE.

For members of GCA Forums in affected metropolitan areas (New York, Chicago, and other major sanctuary jurisdictions), these actions may potentially impact local public safety discussions.

City and state **budgetary concerns.

Medium-term property tax services and rates are important for both investors and homeowners, given the long-term risks to neighborhoods.

STORIES RELATIVE TO GCA VIEWERS.

Mega Media Merger: Netflix & Warner Bros

In a historic $82–83 billion deal, Netflix announced plans to acquire Warner Bros. franchises, including HBO and HBO Max. The deal is pending regulatory approval.

From Hollywood Unions and Creators, there is pushback due to:

Potential job losses.

Minimal active buyers of the content.

The merger would create a very powerful streaming company.

This is significant for GCA Forum’s self-employed borrowers and investors based in the media and tech industries.

California, New York, Georgia.

This industry consolidation is likely to lead to cycles of layoffs and more unpredictable income.

Consumer & Inflation Pulse

This week, Jamie Dimon stated that the US consumer is fine, but inflation is not going down.

This includes:

Strong Company Profit.

Ongoing consumer spending.

Ongoing cost-of-living pressure (Axios).

With holiday spending, the average consumer is expected to spend $890, indicating that people are cautious yet still active as the year comes to a close.

WHAT THIS WEEK MEANS FOR GCA FORUMS MEMBERS: Homebuyers and homeowners:

Mortgage rates have dropped over the past two weeks. The 30-year fixed rate from Freddie Mac is 6.19%, and some strong retail offers are now below 6% (Freddie Mac).

Housing inventory is rising, prices are softening, and buyers now have more leverage to negotiate prices, credits, and buydowns.

DSCR, Rates for DSCR, NON-QM, and Fix and Flip investors are stabilizing, and spreads are narrowing. This means it’s possible to refinance from hard-money rates in the teens to single-digit DSCR loans. The market may be entering a rate-cutting cycle, which could positively impact both risky financial assets and real estate values, and should hold some value into 2026.

To political and policy watchers:

The end of Letitia James’ federal cases and delays in Comey’s cases are new flashpoints in debates over the justice system and may influence the 2026 election.

Sanctuary city disputes and immigration enforcement remain major issues for large cities and their budgets.

https://www.youtube.com/watch?v=jZuqcwvXBHo

I will share the most up-to-date news that matches your request, including updates on the JD Vance/Erika Kirk and Kash Patel/Dan Bongino stories, along with Candace Owens’ comments. This report is based on the latest available facts.

GCA FORUMS NEWS – DETAILED REPORTS ALONG WITH COVERS

FRIDAY, DECEMBER 05, 2025

MARKET OVERVIEW – LIVE DATA

Commerce and Trade (Stock Market)

The S&P 500 rose by 0.4% on Friday as investors reviewed new inflation data. The NASDAQ went up by 0.7%. The Dow closed at 34,850.94 on Thursday, down 0.07% or 31.96 points. The market responded positively to the PCE inflation report, despite the data arriving late. The report shows that inflation cooled in September.

Current Market Levels (December 05, 2025):

Dow Jones Industrial Average: 47,850.94

S and P 500: 6857.12 (+0.11)

NASDAQ COMPOSITE: 23505.14 (+0.22)

The likelihood of a Federal Reserve rate cut has increased this month. Traders now estimate a 87% chance of a cut at the Fed’s December meeting.

Prices of Precious Metals

Gold

At 9:00 a.m. Eastern Time, gold was priced at $4,237 an ounce, up $38 from the previous day.

Furthermore, this represents a $1,604 increase compared to the price of gold one year ago. Specifically, this is $1,604 higher than the price of gold exactly one year ago.

Silver:

As of 8:At 8:15 a.m. Eastern Time, silver was priced at $58.27 an ounce, an increase of $0.88 from yesterday, and has increased by over $26 in the past year.

Silver has doubled in price over the past year.

This is primarily due to a significant tightening of supply and the expectation that the Federal Reserve will cut rates further.

However, after an eight-day rally, traders took profits, causing silver to fall back from its all-time high.:

As of December 5, the average 30-year fixed mortgage rate remained unchanged at 5.99%.

Freddie Mac reports that as of December 4, the 30-year fixed-rate mortgage stands at 6.19%.

Last week, it was at 6.23%, and last year, it was at 6.69%.

Sam Khater, Freddie Mac’s chief economist, adds: This is the second consecutive week that mortgage rates have taken a dip, and they’re half a percent lower than at this time last year.”

Refinance Rates:

The 30-year refinance rate has dropped to 6.62%, while the 15-year refinance rate is now 5.51%.

This section addresses the stories you requested and highlights key findings from my investigation.

JD Vance / Erika Kirk Allegation — NO CREDIBLE EVIDENCE YET

The speculation alleging a romantic connection between Vice President JD Vance and Erika Kirk (the widow of the late Charlie Kirk) HAS not been confirmed.

Snopes looked into this particular claim and discovered there to be no credibility with the allegation that Erika Kirk has had a romantic connection with Vice President JD Vance.

The speculation centered on a Turning Point USA event on October 29, when Kirk introduced Vance, and they embraced on stage.

What Went Down

After Kirk introduced Vance at the event, he gave her a hug, which is where the rumor of the hug originated.

According to a limited White House pool report, Vance left the October 29 event with his wife, Usha Vance, and two U.S. Senators.

Kirk did *not* fly on Air Force Two according to Turning Point USA.

MAINSTREAM MEDIA IS NOT REPORTING THIS AS TRUE

You claim to have support from major newspapers, but all types of news outlets, including fact-checkers like Snopes, have investigated these claims and found them to be false. There is no evidence that Candace Owens or Joe Rogan has ever said JD Vance is the father of a child with Erika Kirk. These claims are disinformation.

.FBI Jet/Dan Bongino Claims – MIXED VERIFICATIONWhat is verified

FBI Director Kash Patel is reportedly dating country singer Alexis Wilkins. Wilkins is protected by a security team comprising FBI SWAT members in Nashville. Some reports claim Patel used the FBI’s $63 million jet to watch Wilkins perform the national anthem at a wrestling match in Pennsylvania.

Other reports say Patel told his security team to drive one of his girlfriend’s intoxicated friends home after nights out in Nashville, on two separate occasions.

The FBI’s Ben Williamson refuted these allegations entirely, claiming that the story is “hogwash,” and that he “could not find any verification or documentation of it whatsoever.”

The FBI Jacket Story:

There are mixed reports about an incident in Utah. One account says Patel refused to leave his FBI jet until someone brought him a medium-sized FBI raid jacket for the cameras, and that agents had to leave their duties to find one that fit. Patel told Fox News the jacket story is “100 percent false.” He added that an agent gave him a jacket, and he was happy to wear it.

Dan Bongino Criticism:

A 115-page internal report, prepared by currently serving and retired agents, detailing the state of the FBI during Patel’s leadership, stated that it was “dismal,” “all f—ed up,” and a “rudderless ship,” with the director being “in over his head.” The report also contained the opinion that the Deputy Director Dan Bongino is, in their words, “some kind of a clown.”

Bongino has worked as a New York City police officer for two years, served 12 years in the Secret Service, and led a 38,000-person agency, despite having no prior management experience or FBI background.

Candace Owens and Erika Kirk

Since Charlie Kirk’s death in September 2025, Candace Owens has made accusations about his death and Turning Point USA. However, she has never accused “Erika Kirk of having any part in her husband’s death.”

Turning Point USA responded to Owens’ accusations for the first time on December 3. Producer Blake Neff said the group is giving Owens a chance to join a live stream to discuss her claims. Neff called her allegations either “false” or “just plain ridiculous.”

Consumers and Real Estate Impacted

Falling mortgage rates and steady markets are good news for consumers:

Refinancing: Rates are significantly lower than they were last year. Homeowners with mortgages at or above 7% interest rates could benefit from refinancing.

The decline in the half-mortgage rate year over year has made home buying more affordable.

Fed Policy: The Fed may cut rates as soon as December 9-10, which could help the housing market.

Economic Indicators: The core personal consumption expenditures index grew 2.8% over the past year, slightly below the expected 2.9%. This supports the case for a Federal Reserve rate cut. This report uses reliable sources. Some claims from the original request turned out to be rumors or misleading. GCA Forums News is committed to evidence-based reporting.

https://www.youtube.com/watch?v=9ntbdKegz0g

GCA FORUMS NEWS – COMPREHENSIVE MARKET AND FINANCIAL REPORT: THURSDAY, DECEMBER 4, 2025LIVE MARKET UPDATEDOW JONES INDUSTRIAL AVERAGE

This afternoon, the Dow Jones reached approximately 47,878, up 408 points from Wednesday’s close of 47,182.90 and near record highs. The S&P 500 and Nasdaq also rose by about 0.2%.

MARKET SENTIMENT

Following the latest jobs report, Fed traders do not anticipate a rate increase at the next meeting. ADP data showed private payrolls in November fell by 32,000, missing the expected increase of 40,000.

PRECIOUS METALS PRICESGOLD

Gold opened at $4,199.00 per ounce on December 5, 2025, down $25.00 from the previous close of $4,203.56. Gold prices have increased nearly 60% over the past year.

SILVER

At 8:15 a.m. Eastern Time, silver was $57.39 per ounce, down $0.21 from the previous day. On December 3, 2025, silver reached $58.97 per ounce, surpassing the 1980 record. The current price is at least double last year’s level, primarily due to reduced supply and expectations of additional Federal Reserve rate cuts. The 30-year fixed mortgage interest rate is 5.99% as of December 4, 2025. Zillow reports the 30-year fixed rate at 5.99% and the 15-year rate at 5.37%. Freddie Mac reports the 30-year fixed rate at 6.19% for the week, down four basis points. The 30-year rate is 6.72% as of December 4, 2025. The refinance rate for a 15-year term is 5.81%.

Expected Interest Rate Averages.

Mortgage rates for 30-year loans are projected to remain near 6.3% in 2026. According to Realtor.com, slower economic growth is expected to keep rates stable despite increasing government debt and inflation.

Mortgage Rate Decline

Rates have declined again and are now just 0.1% above this year’s lows, which is positive for homebuyers after years of high interest rates. The recent Federal Reserve cut and talk of further reductions have increased speculation about how long rates will stay elevated. While rate cuts do not always lead to lower mortgage rates, they can create new opportunities for borrowers.

CONCERNS ABOUT THE FBI DIRECTOR’S CONDUCTFLIGHT TO SEE GIRLFRIEND

FBI Director Kash Patel’s recent trip has generated controversy. Reports indicate he used the FBI’s $60 million jet to attend a wrestling event in Pennsylvania, where his girlfriend, country singer Alexis Wilkins, was performing. House Democrats have requested flight logs and related documents regarding Patel’s use of FBI aircraft.

FBI GUARD FOR GIRLFRIEND

Many members of the Nashville SWAT team are also FBI agents. Several reportedly serve as personal security for Alexis Wilkins. This has raised concerns about providing FBI protection, funded by taxpayers, to a private individual. After the Charlie Kirk assassination, Patel would not leave the FBI plane until his girlfriend got a medium-sized FBI raid jacket. She took a jacket from a female agent, but said it was missing the right patches. Patel insisted that the SWAT team provide the correct patches before she would leave. A 115-page internal report describes Deputy Director Dan Bongino as “something of a clown.” The report characterizes the FBI under Patel as “dismal,” “all f*cked up,” and a “rudderless ship.” Both former and current agents have criticized the “arrogance” of Bongino and Patel, as well as their “unfortunate obsession with social media.” For months, Candace Owens has faced questions and accusations about her criticism of Charlie Kirk’s close friends. Some say she has used personal stories about Kirk’s past relationships in comments aimed at his wife, Erika Kirk. Owens has reportedly said that Kirk’s murder “had to be approved by Charlie’s friends” and that those friends could be “murderers.” Blake Neff of The Charlie Kirk Show has said that Owens claims Kirk was murdered. Market conditions and announcements from Jordan Van Morrow can change quickly. We encourage clients to do their own due diligence and consult financial professionals before making an investment.

https://www.cbsnews.com/news/housing-market-forecast-2026-price-declines-real-estate-mortgage/

cbsnews.com

Home prices are poised to dip in 22 U.S. cities next year, a new analysis says. See where.

A new report from Realtor.com projects that the housing market will shift in a more buyer-friendly direction in 2026.

What is going on with the price per silver per ounce? It broke out $60.00 per ounce. Does anyone know what we don’t know? Just several months ago, price per silver per ounce was under $30.00 per ounce? I hold silver bars, coins, and bullions. Can anyone give us some explanation on what is going on with silver?

https://www.youtube.com/watch?v=ZbRzbGargaU