The U.S. average interest rate on a fixed-rate, 30-year mortgage reached 7.08 percent during the week ended 28 October, according to the Federal Home Loan Mortgage Corporation (Freddie Mac).
Tag: U.S. economy
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HIGH RENTS CHILL APARTMENT DEMAND
Third-quarter demand for U.S. apartments sank to a 13-year low after rental rates rose 25 percent over the past two years, according to rental website Apartment List.
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DISTRESSED CORPORATE DEBT RISES. WILL A DEFAULT WAVE FOLLOW?
The number of corporations with bonded debt regarded as “distressed”—a sign that the companies are moving toward default—is the largest since September 2020.
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THIRD-QUARTER GROWTH FAILS TO EASE RECESSION FEARS
During the first six months of this year, Americans spent lavishly on imports, while U.S. exports remained modest.
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U.S. ECONOMY GREW IN REAL TERMS IN THIRD QUARTER
Adjusted for inflation, the U.S. GDP grew 2.6 percent in this year’s third quarter, after shrinking during the year’s first half.
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WAGES, PRICES CONTINUED TO SPIRAL UPWARD IN SEPTEMBER
In September, the Personal Consumption Expenditures Price Index—the U.S. Federal Reserve’s preferred gauge of inflation—rose at 6.2 percent, year on year.
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BIG TECH’S REALLY BAD WEEK
Investors chopped $566 billion from the collective market value of Alphabet, Amazon, Apple, Meta, and Microsoft last week as interest rates and rising costs foreshadowed slowing growth and weaker performances.
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ECONOMIC UPDATE – MARKET OVERVIEW
There was no October surprise on the equity market front, in fact, quite the opposite.
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SPOTLIGHT: WORLD ENERGY MARKETS IN FLUX
A looming shortage of liquefied natural gas (LNG) worldwide and a reduction in output by OPEC+ have thrust the world into "the first truly global energy crisis", Fatih Birol, executive director of the International Energy Agency (IEA) said in a 25 October speech during the Singapore International Energy Week.
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MORTGAGE APPLICATIONS, HOME SALES TANK AS MORTGAGE RATES EDGE UP
During the week ending 14 October, the number of applications for home mortgages fell 38 percent from the same week a year earlier to their lowest since 1997, the Mortgage Bankers Association said.