interest rate

Mortgage rates plunge, biggest weekly drop since 1981 |  CNN Business

Mortgage rates plunge, biggest weekly drop since 1981 | CNN Business

Editor’s note: Freddie Mac, which has tracked weekly average mortgage rates since 1971 and has periodically made changes to its primary mortgage market survey, changed the source of its data effective November 17, 2022. Instead of surveying lenders, weekly results will be based on applications received from lenders that are submitted to Freddie Mac. Learn …

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Why everything in tech seems to be collapsing all of a sudden

Why everything in tech seems to be collapsing all of a sudden

This is Work in Progress, a newsletter from Derek Thompson about work, technology and how to solve some of America’s biggest problems. Sign up here to get it every week. The tech industry seems to be in a recession. Although overall unemployment is still very low, nearly all major tech companies, including Amazon, Meta, Snap, …

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Britain brings back austerity.  Here's why |  CNN Business

Britain brings back austerity. Here’s why | CNN Business

London CNN Business — The last time a UK finance minister revealed tax and spending plans, the markets went haywire and the country’s prime minister eventually lost her job. The new government is not looking for repeat performance. On Thursday, Chancellor Jeremy Hunt is due to unveil a budget that will aim to restore confidence …

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Inflation is cooling and Wall Street is loving it |  CNN Business

Inflation is cooling and Wall Street is loving it | CNN Business

New York CNN Business — Inventories were mostly higher on Tuesday after the US government announced that wholesale prices rose at a much less dramatic pace than expected. The news comes just days after another report showed the pace of consumer price increases was also slowing. The Dow was flat midday, having given up much …

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Another Key Economic Report Shows Inflationary Pressures Easing |  CNN Business

Another Key Economic Report Shows Inflationary Pressures Easing | CNN Business

Minneapolis CNN Business — A key measure of inflation, wholesale prices, rose 8% in October from a year earlier, according to the latest report from the Bureau of Labor Statistics. Although still historically high, this is the smallest increase since July last year and significantly better than expected. It’s the second inflation report this month …

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UK property market risks major downturn as recession fears loom

UK property market risks major downturn as recession fears loom

Economists predict that soaring interest rates and falling prices will mark the end of the 13-year British property market boom, which could lead to a fall in house prices. Matt Cardy | Getty Images News | Getty Images LONDON — Britain’s property market could be on the verge of a major downturn, with some market …

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It's a terrible time to buy a house.  Here's what to know if you still have to do it |  CNN Business

It’s a terrible time to buy a house. Here’s what to know if you still have to do it | CNN Business

There is no coating: it’s a terrible time to buy a house. Mortgage rates for a 30-year fixed-rate loan are now hovering above 7%, more than 4 percentage points higher than a year ago. This reduced the purchasing power of a typical buyer by 14%, according to Black Knight, a mortgage data company. With fewer …

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This could be the start of a traditional post-midterm rally as signs of slowing inflation emerge

This could be the start of a traditional post-midterm rally as signs of slowing inflation emerge

October’s colder-than-expected consumer inflation report sparked a massive rally in stocks that could herald the traditional fourth-quarter rally of the midterm election year. Bond yields fell sharply as stocks soared after October’s consumer price index rose 0.4%, less than the 0.6% expected. The gain was 7.7% from a year ago, less than the 7.9% expected …

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The economy was a big concern for voters.  Thursday's inflation report probably won't help |  CNN Business

The economy was a big concern for voters. Thursday’s inflation report probably won’t help | CNN Business

Minneapolis CNN — The economy was a priority for voters in the midterm elections, exit polls showed, adding even more weight to a much-anticipated inflation report due out on Thursday. The October consumer price index, which measures the change in the price of everything from pork ribs plane tickets, will provide the latest information on …

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