#Mortgage rates fall for third straight week

#Mortgage rates fall for third straight week

“Mortgage rates fall for third straight week” The average long-term US mortgage rate ticked down for the third week in a row and have fallen more than a half-point since hitting a 20-year high less than a month ago. Mortgage buyer Freddie Mac reported Thursday that the average on the benchmark 30-year rate fell to…

Read More
#Fed inflation gauge shows October prices eased to 6%

#Fed inflation gauge shows October prices eased to 6%

“Fed inflation gauge shows October prices eased to 6%” A measure of inflation that is closely monitored by the Federal Reserve eased but remained at an elevated level in October, likely reinforcing the Fed’s intent to keep raising interest rates to cool the economy and slow the acceleration of prices. Thursday’s report from the Commerce Department showed…

Read More
#Dow, stocks tumble despite signs of easing inflation

#Dow, stocks tumble despite signs of easing inflation

“Dow, stocks tumble despite signs of easing inflation” The Dow fell nearly 200 points in uneven trading on Wall Street Thursday and bond yields pulled back after the government reported that a measure of inflation that’s closely watched by the Federal Reserve eased in October. The Dow Jones Industrial Average slid 194.76 points, or 0.6%,…

Read More
#rate-hike slowdown possible in December

#rate-hike slowdown possible in December

“rate-hike slowdown possible in December” The Federal Reserve could scale back the pace of its interest rate hikes “as soon as December,” Fed Chair Jerome Powell said Wednesday, while cautioning the fight against inflation was far from over and that key questions remain unanswered, including how high rates will ultimately need to rise and for how long….

Read More
#Job openings dipped in October in positive sign for Fed

#Job openings dipped in October in positive sign for Fed

“Job openings dipped in October in positive sign for Fed” US job openings dropped in October but remained high, a sign that businesses became slightly less needy for workers as the Federal Reserve ramps up interest rates in an effort to cool the economy. Employers posted 10.3 million job vacancies in October, down from 10.7 million in…

Read More
#GDP revised up to 2.9% for third quarter

#GDP revised up to 2.9% for third quarter

“GDP revised up to 2.9% for third quarter” Despite high interest rates and chronic inflation, the US economy grew at a 2.9% annual rate from July through September, the government said Wednesday in a healthy upgrade from its initial estimate. Last quarter’s rise in the gross domestic product — the economy’s total output of goods…

Read More
#Central bank could cut rates in 2024

#Central bank could cut rates in 2024

“Central bank could cut rates in 2024” New York Federal Reserve President John Williams on Monday declined to say how fast and how far he believes the US central bank will need to raise interest rates over coming months but reckons a rate cut is possible in 2024 as inflation pressures ease. “I do think we’re going to need to…

Read More
#Majority of Fed officials see rate hikes slowing soon: minutes

#Majority of Fed officials see rate hikes slowing soon: minutes

“Majority of Fed officials see rate hikes slowing soon: minutes” A “substantial majority” of policymakers at the Federal Reserve’s meeting early this month agreed it would “likely soon be appropriate” to slow the pace of interest rate hikes as debate broadened over the implications of the central bank’s rapid tightening of monetary policy, according to the…

Read More