Five interesting things that Hodges Capital research analysts discovered this week...

#1 TIME TO HEAD TO THE ELECTION POLLS: A new NBC News Poll found 70% of all registered voters expressing high interest in the election – either a “9” or a “10” on a 10-point scale – the highest percentage ever in the survey for a midterm election at this point. By party, however, 78% of Republicans have high interest in the midterms, compared with 69% of Democrats.

#2 RECREATIONAL SPORTS PARTICIPATION CONTINUES TO GROW: According to the Sports and Fitness Industry Association, between 2020 and 2022, participation rose in golf by +25%, tennis by +28%, skateboarding by +32%, and pickleball by +39%.

#3 RENT IS TRICKLING DOWN: Through the third quarter, national rents declined by $7 or 0.4% from $1,641 to $1,634, and national vacancy jumped 30 basis points, settling at 5.4% at the end of September.

#4 U.S. MORTGAGE INTEREST RATES JUMP TO 7.16%: The average contract rate on a 30-year fixed-rate mortgage rose by 22 basis points to 7.16% for the week ended Oct. 21, while the MBA's Market Composite Index, a measure of mortgage loan application volume, fell 1.7% from a week earlier. This is the highest rate since 2001. Mortgage application activity is at its slowest pace since 1997.

#5 METAVERSE CONTINUES TO GROW: Citibank estimates that the metaverse could be worth $13 trillion by 2030 and have up to 5 billion users.

Hodges Private Client is a program offered through Hodges Capital Management, Inc. (“HCM”). HCM is an Investment Advisory Firm registered with the Securities and Exchange Commission (“SEC”), is a wholly owned subsidiary of Hodges Capital Holdings and serves as investment advisor to the Hodges Funds. HCM is affiliated with First Dallas Securities, Inc, a broker-dealer, and investment advisor registered with the SEC.

This discussion is not intended to be a forecast of future events and should not be considered a recommendation to buy or sell any security. Past performance is not indicative of future results. Investing involves risk. Principal loss is possible. Investing in smaller companies involves additional risks such as limited liquidity and greater volatility. No current or prospective client should assume that information referenced in this communication is a recommendation to buy or sell any security or is a substitute for personalized investment advice from your individual advisor. HCM does not provide tax or legal advice. Consult your tax or legal advisor for any related questions.

All information referenced herein is from sources believed to be reliable and is provided as general market commentary and does not constitute investment advice. This material was created for informational purposes only and the opinions expressed are solely those of HCM. HCM shall not in any way be liable for claims and makes no expressed or implied representations or warranties as to the accuracy or completeness of the data and other information. The data and information are provided as of the date referenced and are subject to change without notice.