The average rate on a 30-year mortgage rose to 6.95% this week, Freddie Mac says, ending a four-week rate slide
LOS ANGELES (AP) — The average rate on a 30-year mortgage rose to 6.95% this week, Freddie Mac says, ending a four-week rate slide.
LOS ANGELES (AP) — The average rate on a 30-year mortgage rose to 6.95% this week, Freddie Mac says, ending a four-week rate slide.
Before this morning's jobs report, market participants put nearly 70% probability of lower rates in September, according to the CME FedWatch Tool.
The June jobs report comes at a crucial moment as economists debate whether the US labor market is still normalizing to pre-pandemic levels or showing the early signs of a broader slowdown.
Indonesian lawmakers agreed to a wider target range for the budget deficit for next year, with a likelihood that the shortfall could be smaller than previously estimated.
June's jobs report is yet another sign pointing to the US job market cooling. PNC Financial Services Group chief economist Gus Faucher joins Market Domination to discuss the reading and what it means for the overall economy. "I read this report as being very positive. The job market continues to improve, but the pace of job growth is slowing towards a more sustainable pace over the longer run. We saw slower wage growth, which is reducing inflationary pressures from the labor market. But at the same time, wages are increasing more quickly than inflation. So household incomes are going up and the economy should continue to expand. So I think if you're at the Fed, this is what you want to see," Faucher explains. He notes that the unemployment rate at 4.1% indicates "a bit more slack in the labor market." He explains that the Federal Reserve is balancing the right time to cut without stoking inflation. He anticipates the Fed's first interest rate cut to come in November since they risk political criticism if they cut in September. For more expert insight and the latest market action, click here to watch this full episode of Market Domination. This post was written by Melanie Riehl
The June jobs report showed unemployment approaching a three-year high and raised the pressure on the Fed to act on rate cuts in September.
Labour’s planning reforms ‘positive’ for sector while currency markets had priced in the election landslide
LONDON—The Conservatives, the world’s winningest political party, were booted out of power in dramatic style on Thursday after 14 years of chaotic and divisive rule.The Labour Party had secured a landslide victory, ending an era of Conservative rule over Britain that stretches back to 2010; the year that the iPad and Instagram were launched and Lady Gaga wore that meat dress to the MTV music awards.In that time, the Conservatives have cycled through five leaders, each of them dragging the party
KUALA LUMPUR, July 5 — An American tourist decided to visit Malaysia for a special reason: Malaysia also happens to be h...
President’s July 4 blunder comes as he desperately tries to claw back confidence among voters and party members after last week’s debate flop
The TVB actress shares photos of her and her daughter, not revealing partner's identity
Corazon Dandan died after being pushed into an oncoming BART train at San Francisco’s Powell Street Station at around 11 p.m on Monday night. The suspect, 49-year-old Trevor Belmont, also known as Hoak Taing, was arrested at the scene and booked into the San Francisco County Jail on suspicion of homicide and elder abuse. Dandan, who was Filipino American, was a dedicated telephone operator at the Westin St. Francis and other hotels.
A series of world events, poor decisions and fatal gaffes conspired to see Rishi Sunak lead the Tories to the worst electoral defeat in his party’s 346-year history
The defeat of the Conservative Party in the UK election ends Rishi Sunak’s two-year premiership. Does it also sour the story of Britain’s first Asian prime minister, asks Sunder Katwala.
Rishi Sunak, 44, finds himself in a bind. After a highly successful career in the City of London, followed by a brief but eventful spell in politics, he has suffered a serious demotion and been evicted from his home.
Russian aggression in Ukraine poses a threat to world peace and stability. China provides material support for Russia’s actions. All this is entirely clear. In Beijing, immediately after a meeting with Xi Jinping in April this year, US Secretary of State Antony Blinken said that “Russia would struggle to sustain its assault on Ukraine without China’s support”. This included selling huge quantities of machine tools and micro-electronics that would be used in the Russian defence industry.
China recently became the first country to ever return samples taken from the far side of the Moon, a historic mission that could have profound implications on our understanding of its evolution and ability to host human life. But thanks to a law called the Wolf Amendment, which was enacted by the US government in […]
The leader of the Labour Party, Keir Starmer, has been mentored by Barack Obama. The relationship is likely to continue if Starmer wins the UK election.
KUALA LUMPUR, July 5 — Pakatan Harapan’s Joohari Ariffin could win the Sungai Bakap by-election in Penang tomorrow if hi...
One of two suspects in an arson in Richmond, British Columbia, set himself on fire and “despite efforts of both the suspects, [his] pants continued to burn,” according to Royal Canadian Mounted Police (RCMP).The RCMP released footage of the incident, which they said occurred in the early hours of April 24.“At approximately 4:30 am Richmond RCMP attended for an alarm at a business located in the 2600 block of Simpson Road,” police said.“Frontline officers located a broken window and small fire directly in front of it. Evidence was also located which indicated the fire had been intentionally set.“A subsequent review of video surveillance from the area determined that two unidentified men wearing masks had approached the business on foot prior to allegedly smashing the window and then lighting an object on fire. While lighting it, one of the suspect
This Euro 2024 clash could have been an all-time great quarter-final, and instead a part of it was stolen