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Keyword: interestrates

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  • Mortgage rates tick down, back below 7%

    06/07/2024 8:25:07 AM PDT · by SeekAndFind · 29 replies
    Yahoo Finance ^ | 06/07/2024 | Breck Dumas
    Mortgage rates dipped just under 7% this week after crossing above that threshold in the prior reading as rates remain stubbornly high, stifling the housing market. Freddie Mac's latest Primary Mortgage Market Survey, released Thursday, showed that the average rate on the benchmark 30-year fixed mortgage ticked down to 6.99% this week from 7.03% last week. The average rate on a 30-year loan was 6.71% a year ago. The average rate on the 15-year fixed mortgage also decreased to 6.29% from 6.36% last week. One year ago, the rate on the 15-year fixed note averaged 6.07%.
  • Federal student loan interest rate will rise to highest level in 12 years

    05/16/2024 8:53:07 AM PDT · by SeekAndFind · 19 replies
    CNN VIA MSN ^ | 05/16/24 | Katie Lobosco
    Borrowing to pay for college is about to get more expensive: The interest rate on new federal student loans for undergraduates during the upcoming 2024-25 academic year will be the highest in 12 years. The federal student loan interest rate will be 6.53% for undergraduate students, up from 5.5% for the current year. The interest rate has not been that high on any undergraduate loans since the 2012-13 school year. Graduate students will see an 8.08% interest rate this coming academic year, up from 7.05%. And PLUS loans, which are available to both parents and graduate students, will come with...
  • 2 experts outline a looming scenario where the US economy could end up caught in a dreaded period of stagflation

    04/28/2024 12:35:00 AM PDT · by RomanSoldier19 · 25 replies
    Market Insider via MSN ^ | 4/28/24 | (Filip De Mott)
    Slower growth and rising inflation has brought back distant cries that stagflation is coming. This would force interest rates to stay higher for longer, putting pressure on US businesses and consumers. One investor says anyone looking to hedge this risk should focus on fixed income. A pair of economic reports has brought back a word no central banker ever wants to hear: stagflation. The difficult scenario occurs when inflation rises and growth stalls, a dangerous combination just experienced by the US economy. Worries emerged when Thursday's first-quarter GDP reading slumped against expectations, growing at an annualized 1.6% rate. That's a...
  • America’s Bonds Are Getting Harder to Sell

    04/15/2024 9:26:51 AM PDT · by george76 · 20 replies
    WSJ ^ | April 14, 2024 | Eric Wallerstein
    A series of weak auctions for U.S. Treasurys are stoking investors’ concerns that markets will struggle to absorb an incoming rush of government debt. ... inflation not tamed ... Federal Reserve will leave interest rates at multidecade highs for .. years to come. The 10-year yield—the benchmark for borrowing rates on everything from mortgages to corporate loans—finished the week around 4.5%... At the same time, the government is poised to sell another $386 billion or so of bonds in May—an onslaught that Wall Street expects to continue no matter who wins November’s presidential election. While few fear a failed auction—an...
  • Speculation rife after Putin’s top banker pulls out of event amid mystery ‘surgery’ claims…as officials drop like flies

    01/17/2024 5:03:18 AM PST · by marcusmaximus · 23 replies
    Sun UK ^ | 1/16/2024 | Neha Dhillon Will Stewart
    CONCERN has mounted over Russia’s central bank governor after she suddenly cancelled an appearance at an exhibition without explanation. It comes amid circulating rumours that Elvira Nabiullina, 60, has undergone an unspecified surgery at the Kremlin. Russia's central bank has declined to comment on the rumours, Reuters reported. The Kremlin has also refused to comment on the surgery rumours, appearing annoyed at the question. “I do not consider this question appropriate at our conference call,” Putin’s spokesman told journalists today. "This is absolutely personal information about health and we have neither the scope nor the desire to comment on it."
  • Breitbart Business Digest Exclusive with Donald Trump: Former POTUS Predicts Fed Will Lower Rates to Help the Democrat Nominee.

    01/02/2024 8:19:13 PM PST · by Macho MAGA Man · 17 replies
    Breitbart ^ | January 2, 2024 | Alexander Marlow
    Trump Predicts the Fed Will Lower Rates to Help Democrats We also were keen to ask Trump if he thinks the Federal Reserve and Chairman Jerome Powell will cut interest rates specifically to help Joe Biden (or another Democrat) win the general election. The former President said he does think that is how things will play out. "Yeah, I think they will,” he said, before taking a light dig at Powell. “I was never a big fan of this guy,” Trump told us, before casually pointing the finger at his own Treasury Secretary. “Steve Mnuchin recommended him, but I was...
  • Russian central bank hikes rates by 100 basis points to 16%

    12/16/2023 11:36:15 AM PST · by marcusmaximus · 80 replies
    RTE ^ | 12/15/2023 | Reuters
    Russia's central bank has today raised its key interest rate by 100 basis points to 16%, hiking borrowing costs for the fifth meeting in a row under stubborn inflation pressure from widespread labour shortages, high lending and the weak rouble. The central bank has now raised rates by 850 basis points since July, including an unscheduled emergency hike in August as the rouble tumbled past 100 to the dollar and the Kremlin called for tighter monetary policy. The bank said pro-inflationary risks over the medium-term horizon remained substantial and warned that stabilising inflation near its 4% target would require high...
  • Dow crosses 37,000 for the first time, soaring after the Fed signals rate cuts ahead

    12/13/2023 12:46:02 PM PST · by chuck allen · 64 replies ^ | 12/13/23 | Brian Evan’s, Sarah Min
    The Dow Jones industrial Average jumped to a record Wednesday as the Federal Reserve signaled it would cut rates several times next year, satisfying investors who hoped the central bank would finally start to acknowledge the slowing trend of inflation with a less-aggressive monetary stance. The 30-stock Dow added 374 points, or 1%. At its high of the day, the Dow touched 37,057.81 to surpass 37,000 for the first time and exceed its previous all-time high in January of 2022. The S&P 500 jumped 1% with bank and real estate shares leading the way, while the Nasdaq Composite climbed 1%....
  • Housing expert: 8% mortgage rate 'does not seem unlikely' after rates remain at 23-year high

    10/05/2023 7:49:09 PM PDT · by lasereye · 40 replies
    Yahoo Finance ^ | October 5, 2023 | Gabriella Cruz-Martinez
    Mortgage rates jumped again this week — remaining at a 23-year high and increasing the likelihood that rates could soon hit 8%. The rate on the average 30-year fixed mortgage increased to 7.49% from 7.31% the previous week, according to Freddie Mac, following the yield of the 10-year Treasury, which spiked to a 16-year high this week. Rates are at their highest point since December 2000 for a second week in a row, with few signs of softening. Steeper rates continue to smother homebuyer demand, forcing the price-conscious to the sidelines. Meanwhile, those still on the hunt leaned on lower-rate...
  • Stocks pummeled as bond yields surge amid hot jobs data: Stock market news today

    10/03/2023 9:58:06 AM PDT · by lasereye · 27 replies
    Yahoo Finance ^ | October 3, 2023 | Karen Friar and Alexandra Canal
    A Wall Street selloff intensified Tuesday as rising Treasury yields piled on pressure and investors got a reminder not to expect a Federal Reserve interest rate cut any time soon. The S&P 500 (^GSPC) dropped almost 1.1%, while the Dow Jones Industrial Average (^DJI) tumbled about 1.1%, or more than 350 points. The tech-heavy Nasdaq Composite (^IXIC) was down over 1.5% after closing with a gain on Monday. Hawkish comments by Fed policymakers reminded investors that resilience in the US economy likely means borrowing costs will stay higher for longer. Traders are now pricing in odds of 29% that policymakers...
  • Fed holds rates steady, hints at one more rate hike as economy outperforms

    09/20/2023 2:04:23 PM PDT · by lasereye · 33 replies
    thestreet ^ | Sep. 20, 2023 | MARTIN BACCARDAX
    The Federal Reserve kept its benchmark lending rate unchanged at a two-decade high, but suggested at least one more increase is likely between now and the end of the year as inflation remains elevated and the economy continues to perform. The Fed's Open Markets Committee held its key policy rate at between 5.25% and 5.5%, the highest in 22 years, in a move that was widely expected from markets following a quarter point rate hike in July. The Fed's new Summary of Economic projections, known as the dot plots, now calls for GDP stronger growth of 2.1% this year, more...
  • Irish mortgage interest rates slightly higher than euro zone average

    09/13/2023 12:48:32 PM PDT · by Olog-hai · 3 replies
    RTÉ News ^ | Wednesday, 13 Sep 2023 12:46 | Will Goodbody, Business Editor
    Interest rates on new mortgages remained broadly steady in July compared to the previous month, new data from the Central Bank shows. The average interest rate for new mortgage agreements was 4.06% for the month. That compares to 4.04% in June. New fixed rate mortgage rates averaged 4.04%, while new variable rate home loans averaged 4.18% Despite the small month on month increase though, compared to July of last year, new mortgage interest rates are 1.43% higher. That is reflective of some of the European Central Bank interest rate increases being passed through to borrowers. Since July of 2022, the...
  • Inflation is rising again, and Bidenomics is still to blame (NYT Op Ed)

    09/01/2023 10:51:51 AM PDT · by Diana in Wisconsin · 5 replies
    New York Post Editorial Baord ^ | September 1, 2023 | Post Editorial Board
    Inflation accelerated in July: The Federal Reserve’s preferred measure, the Personal Consumption Expenditures price index, rose 3.3% over one year earlier, up from June’s 3%. That’s still below the peak of 7% last summer — but heading back up in the wrong direction. Some claim it’s just a fluke. In fact, it’s most likely thanks to President Joe Biden’s new spending spree — care of the woefully misnamed “Inflation Reduction Act” kicking in — and means a whole new round of rising prices. That law, as we noted at the time, actually increased federal spending, and the deficit, in the...
  • Federal Reserve to Keep Hiking Interest Rates as US Economy Not Cooling — Chairman Powell

    08/26/2023 4:48:08 PM PDT · by RandFan · 15 replies
    Infowars / Sputnik ^ | Aug 26 | Sputnik
    WASHINGTON (Sputnik) – The Federal Reserve will keep raising interest rates as long as it is needed to bring inflation back to its long-term target of 2% per year given that the US economy is not cooling as was initially thought, Chairman Jerome Powell said on Friday. “It is the Fed’s job to bring inflation down to our 2% goal, and we will do so,” Powell stressed, opening the US central bank’s annual symposium in Jackson Hole, Wyoming. Inflation hit four-decade highs of more than 9% per year in June 2022 due to trillions of dollars of federal relief spending...
  • Home sales fall again in July, as supply drops to near quarter-century low

    08/22/2023 9:53:52 AM PDT · by ConservativeInPA · 15 replies
    CNBC ^ | August 22, 2023 | Diana Olick
    KEY POINTS • The median price of a home sold in July was $406,700, an increase of 1.9% from July of last year. • Sales fell month to month in all regions except the West, where they gained 2.7%. Sales fell the most in the Northeast, down 5.9%. • There were 1.11 million homes for sale at the end of July, 14.6% fewer than July 2022 and about half of the pre-Covid supply. Sales of previously owned homes dropped 2.2% in July from June to a seasonally adjusted, annualized rate of 4.07 million units, according to the National Association of...
  • Mortgage interest rates surge past 7%, hit highest level since 2002

    08/17/2023 6:33:35 PM PDT · by lasereye · 12 replies
    Los Angeles Times ^ | AUG. 17, 2023 | BY ANDREW KHOURISTAFF
    Home mortgage rates have surged past 7%, hitting the highest level in more than 20 years and dealing another blow to Americans trying to break into the housing market. The average rate on the popular 30-year fixed mortgage was 7.09% this week, up from 6.96% last week and the highest since 2002, according to data released Thursday from mortgage giant Freddie Mac. One month ago rates were at 6.78% and for much of the year held in the low-to-mid-6% range. But borrowing costs have been on the rise lately. Inflation is a major driver of mortgage rates and amid continued...
  • The Magic Mortgage Rate Number to Tip the Housing Market

    08/06/2023 9:17:30 PM PDT · by SeekAndFind · 14 replies
    Kiplinger ^ | 08/06/2023 | Erin Bendig
    Homeowners with a mortgage rate above this number are almost twice as likely to sell their home.A new survey from Zillow found the “mortgage rate tipping point” at which homeowners are likely to sell their homes. According to the survey, homeowners with a mortgage rate above 5% are almost twice as likely to say they plan on selling their home in the next three years than those paying a rate below 5%. As the Fed continues to raise the federal funds rate in an attempt to combat inflation, consumers are facing higher commercial interest rates, especially mortgage rates. As of...
  • Powell’d! Interest Expenses Soar At Big Banks As Fed Tightens Money (The Fed Is Playing A Game)

    07/14/2023 6:53:32 AM PDT · by Kaiser8408a · 17 replies
    Confounded Interest ^ | 07/14/2023 | Anthony B. Sanders
    What screams may come! Actually, the aftermath of excessive monetary policies under Bernanke, Yellen and Powell are coming home to bit the big banks. Interest expenses at big US banks are rising much more quickly than interest income. Across the six largest US banks, interest expenses are set to climb to roughly $78.7 billion from $15.5 billion in the same period last year. There is still $8.3 Trillion in monetary stimulus sloshing around the monetary system. The Fed played a game. And is still playing!!
  • Livin’ La Vida Biden! Bankrate’s 60 Month Auto Loan Rate Up To 7.65%, Up 166% Under Bidenomics (Only Getting Worse As Powell Vows More Rate Hikes)

    07/07/2023 11:09:29 AM PDT · by Kaiser8408a · 6 replies
    Confounded Interest ^ | 07/07/2023 | Anthony B. Sanders
    Livin’ la vida Biden! The Biden Administration has got a line on you! Unfortunately that line is choking America’s middle class and low wages workers with inflation and rising interest rates. Auto loan rates are now up to 7.65%, a gut-wrenching 166% increase under Bidenomics. Average monthly payments also reached a new record of $733. That compares with $730 in the first quarter and $678 in the second quarter of 2022. Buyers were financed with an average APR of around 7.1%, the highest since the fourth quarter of 2007. 2 out of every 3 consumers who agreed to a $1,000+...
  • Nikkei Powers to Japan's 1990 'Bubble' Era High

    05/18/2023 9:05:39 PM PDT · by nickcarraway · 9 replies
    Channel News Asia ^ | 19 May 2023
    Japan's Nikkei share average rallied on Friday to the highest since August 1990, the country's so-called "bubble" era, driven by a confluence of positive factors from strong earnings to optimism over a U.S. debt ceiling deal. The benchmark index jumped as high as 30,924.57 shortly after the open, on course for a seventh straight winning session, after smashing through the psychological 30,000 level on Wednesday for the first time in 20 months. The broader Topix, which had reached the post-bubble milestone on Tuesday, extended its climb to as high as 2,171.37.