(Bloomberg) — US equities extended the week’s rally after a key measure of US inflation cooled last month by more than expected, suggesting the Federal Reserve may be close to ending its rate-hiking campaign. The dollar pared an advance. Most Read from Bloomberg Excluding food and …
A For Sale sign displayed in front of a home on February 22, 2023 in Miami, Florida. Joe Raedle | Getty Images Higher mortgage rates took some of the juice out of the housing recovery in February. After a sharp gain in January, pending home sales …
U.S. stock futures moved higher ahead of the open on Monday, while bank stocks also rose after North Carolina-based First Citizens (FCNCA) bank agreed to buy most of Silicon Valley Bank. Futures tied to the S&P 500 (^GSPC) and futures on the Dow Jones Industrial Average …
A For Sale sign displayed in front of a home on February 22, 2023 in Miami, Florida. Joe Raedle | Getty Images Mortgage demand has increased for three straight weeks now, as interest rates dropped in response to the recent bank failures. But rates are rising …
Rate hikes, one year later For its part, the Fed has already hiked its benchmark fund rate eight times over the last year to its current level of between 4.5% and 4.75%. The federal funds rate, which is set by the central bank, is the interest …
Opinions expressed by Entrepreneur contributors are their own. Thanks to inflation and the Federal Reserve’s response, interest rates are now at their highest levels in 15 years. The nationwide average for 30-year mortgages is over 6%, credit card rates have gone north of 23% and even …
Demand for mortgages increased for the second straight week, despite some volatility in mortgage rates. Total application volume rose 6.5% last week compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. The average contract interest rate for 30-year fixed-rate mortgages with …
A residential neighborhood in Austin, Texas, on Sunday, May 22, 2022. Jordan Vonderhaar | Bloomberg | Getty Images The average rate on the popular 30-year fixed mortgage dropped to 6.57% on Monday, according to Mortgage News Daily. That’s down from a rate of 6.76% on Friday …
A “For Sale” sign outside of a home in Atlanta, Georgia, on Friday, Feb. 17, 2023. Dustin Chambers | Bloomberg | Getty Images After dropping to a 28-year low the previous week, mortgage demand recovered slightly, even though interest rates marched higher. Total mortgage application volume …
The average rate on the 30-year fixed mortgage jumped back over 7% on Thursday, rising to 7.1%, according to Mortgage News Daily. Growing fears that inflation is not cooling off are pushing bond yields higher. Mortgage rates loosely follow the yield on the U.S. 10-year Treasury. …
