rates

US falls into ‘housing recession’ as mortgage rates, building costs surge

The US housing market has plunged into a full-blown recession as tightened economic policy and surging expenses weigh on home builders. Builder confidence has plummeted for eight consecutive months, marking its worst stretch since the housing market imploded in 2007 in the midst of the Great Recession, according to data released Monday. The National Association …

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Asia shares mixed, China cuts rates as data disappoints

FILE PHOTO – People pass by an electronic screen showing Japan’s Nikkei share price index inside a conference hall in Tokyo, Japan June 14, 2022. REUTERS/Issei Kato Register now for FREE unlimited access to Reuters.com Register https://tmsnrt.rs/2zpUAr4 Nikkei edges up, S&P 500 futures dip PBOC cuts key rates, China data badly miss forecasts Eyes on …

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China unexpectedly cuts 2 key rates, withdraws cash from banking system

Headquarters of the People’s Bank of China (PBOC), the central bank, is pictured in Beijing, China September 28, 2018. REUTERS/Jason Lee Register now for FREE unlimited access to Reuters.com Register SHANGHAI, Aug 15 (Reuters) – China’s central bank unexpectedly cut a key interest rate for the second time this year and withdrew some cash from …

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Mortgage rates bounce back on strong employment and inflation data

Placeholder while article actions load After a brief dip below 5 percent for the first time in four months, the 30-year fixed rate shot above that level this week. According to the latest data released Thursday by Freddie Mac, the 30-year fixed-rate average jumped to 5.22 percent with an average 0.7 point. (A point is …

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Airfares, hotel rates and rental car prices fell in July. Here’s how you can score a good deal

Fluxfactory | E+ | Getty Images Travelers saw prices fall for big-ticket pieces of their vacation budgets in July, offering at least a temporary reprieve after soaring costs earlier this year. Airfares fell nearly 8% from June to July, while prices for rental cars and lodging such as hotels declined 9.5% and about 3%, respectively, …

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Cramer’s week ahead: Hot inflation numbers could push Fed to raise rates in August

CNBC’s Jim Cramer on Monday said the Federal Reserve could raise interest rates in August, before its next scheduled meeting in September, if this week’s economic data shows that inflation isn’t abating. “The Fed is still in charge of this market. A week ago, it looked like they might ease up, but after Friday’s red-hot …

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Lessons From the ’80s, When Volcker Reigned and Rates Were High

The cost of living is sky-high, and the chair of the Federal Reserve says that battling it is his highest priority. Financial markets don’t know quite how to react. That, in a nutshell, is the situation now, with Jerome H. Powell, the Fed chair, raising interest rates to damp down inflation that hasn’t been this …

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Mortgage rates drop below 5% for first time since April | CNN Business

Mortgage rates dropped for the second week in a row, falling below 5% for the first time since mid-April. The 30-year fixed-rate mortgage averaged 4.99% in the week ending August 4, down from 5.3% the week before, according to Freddie Mac. But that is still significantly higher than this time last year when it was …

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