Economy News
Economic news covering Fed interest rate decisions, inflation data, jobs reports, GDP growth, and macroeconomic trends affecting the stock market.
Australian Pension Boost Arrives March 20, Deeming Rate Hike May Offset Gains
Millions of Australian welfare recipients will see payment increases from March 20, though a simultaneous rise in deeming rates may trim benefits for some pensioners.
Futamura Wigton Plant Workers Set Strike Vote After Overwhelming Pay Offer Rejection
Workers at Futamura's cellulose film plant in Wigton, England, will hold a strike ballot after overwhelmingly rejecting a 1.2% pay offer. The GMB union is demanding a 3.8% increase, citing inflation.
Mortgage Rates Hold Near 6% as Housing Data Dampens Sentiment
Mortgage rates held steady above 6% this week as the housing market shows signs of strain, with existing-home sales declining sharply. Rocket Companies shares fell amid the cautious sentiment.
Mortgage Demand Dips as Strong Jobs Data Lifts Yields, Pressuring Lender Stocks
U.S. mortgage applications declined slightly last week while lender shares fell after a robust employment report pushed Treasury yields higher, dampening near-term rate cut hopes.
Mortgage Rates Dip to Three-Week Low as Markets Await Jobs Data
U.S. mortgage rates declined to their lowest level in three weeks, with the 30-year fixed average falling to 6.11%. Financial markets are now focused on the upcoming employment report for direction on bond yields.
Mortgage Rates Hold Steady Near 6.3% as Key Economic Data Awaited
U.S. 30-year fixed mortgage rates remained near 6.28% early Tuesday, with markets focused on upcoming employment and inflation reports. Rocket Companies shares gained in premarket trading.
30-Year Mortgage Rates Hold Steady Near 6% as Fed Pause Extends
The average 30-year fixed mortgage rate remained at 5.99% this week, with limited movement as the Federal Reserve's next meeting is not until March. A survey indicates most buyers would reconsider plans if rates climb above 6%.
Refinance Rates Remain Elevated Above 6%, Dampening Homeowner Enthusiasm
Average 30-year fixed refinance rates hold above 6%, with government-backed options slightly lower. Most borrowers face higher costs despite some lenders offering sub-6% rates.
Mortgage Rates Hold Steady Near 6% Threshold, Refinancing Costs Remain Elevated
U.S. mortgage rates showed little movement this week, with the benchmark 30-year fixed rate persisting around 6%. Refinance rates continue to outpace purchase rates, dampening homeowner incentive.
