A decline of 0.3 of a percentage point brought the national average mortgage interest rate to 6.26 percent over the three weeks ending 17 September, the lowest rate since last November, according to the Mortgage Bankers Association (MBA).
Tag: U.S. Economy
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THE NUMBER OF LATE-PAYING CAR LOANS CONTINUES TO RISE
As wage increases lag inflation and unemployment ticks up, low-income households are having a harder time keeping up with their car payments.
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CONSUMERS OUTLOOK REMAINS DARK
Households’ negative view of the U.S. economy and its future remains grim, according to the initial October result of the University of Michigan’s monthly survey of consumer sentiment.
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WARNINGS MOUNT REGARDING A STOCK MARKET BUBBLE
The International Monetary Fund and Bank of England have joined Morgan Stanley and JPMorgan boss James Dimon in raising alarms about the growing possibility of a stock market bubble that could be close to bursting.
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U.S. JOB MARKET CONTINUES TO WEAKEN
Because of the federal government's shutdown, the Bureau of Labor Statistics (BLS) is unable to publish its initial U.S. jobs report for September.
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ECONOMIC UPDATE – MARKET OVERVIEW
Some two years ago, back in September 2023 we had forecast that gold had bottomed out when it was selling at $1,850 per ounce. Then, on 2 January 2024, we had forecast that it would be a Golden Year for Gold, and it was. Gold went up nearly 30 percent last year and now it is up around 55 percent this year.
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ANOTHER GOLDEN YEAR FOR GOLD
Investors continue to pile into the gold market even as the metal’s price has broken through $4,000 in the biggest rally in half a century.
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U.S. SERVICE SECTOR SLOWED IN SEPTEMBER
Business activity lessened in the U.S. service sector in September as costs continued to rise.
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SPOTLIGHT: BIGS GETTING BIGGER
The number of mergers and acquisitions topping $10 billion in value has set a record at 14 in this year’s third quarter, the Financial Times reported after analyzing data from the London Stock Exchange Group (LSEG).
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TOP TREND 2024: EV GO FU
A federal tax incentive of as much as $7,500 for the purchase of electric vehicles (EVs) ended 30 September, leaving auto companies and their dealers with an estimated 134,000 cars that suddenly cost thousands of dollars more than they did last month.