Economy News
Economic news covering Fed interest rate decisions, inflation data, jobs reports, GDP growth, and macroeconomic trends affecting the stock market.
Turkish Diesel at 90 Lira, Tax Hikes Could Push It Past 100
Turkish diesel prices have exceeded 90 lira per liter, and a scheduled tax increase could push them past 100 by January, adding to inflation pressures as the central bank considers rate cuts.
Mortgage Rates at 6.71%: The Real Cost of Crossing the 6% Threshold
Freddie Mac's 30-year mortgage rate rose to 6.71%, adding $1,933 a year to the median homebuyer's payment. Housing demand stays stable but faces headwinds.
Canada's August Jobs Miss Widens Gap With US Hiring
Canada's August employment fell by 41,700, far worse than expected, while US hiring remained robust, widening the economic gap and pressuring the loonie.
Tech Futures Lead Modest Gains Ahead of Key Jobs Report
Nasdaq-100 futures rose 0.38% early Friday, leading modest gains as investors await the August jobs report, which could test the recent rate-relief rally.
Canada Trade Surplus Plunges 82% as Loonie Gains 0.5%
Canada's trade surplus narrowed 82% to C$769M in July, missing forecasts. Exports fell 2.3%, imports rose 2.2%, and the loonie gained 0.5% to C$1.3776.
India Q1 GDP Beats Forecast But Oil Prices Cap Market Gains
India's GDP grew 7.8% in Q1, beating forecasts, but oil prices near $95 limited equity gains. Special FX inflows of $136.4B provided a buffer.
Mortgage Demand Edges Higher as 30-Year Rate Holds Near 6.8%
US mortgage purchase applications rose 2% last week even as the 30-year fixed rate climbed to 6.79%. Refinancing fell 1% and remained 19% below year-ago levels, according to MBA data.
Premium Bonds Prize Rate Rises to 4.35% Amid Payout Variability
NS&I boosts Premium Bonds prize rate to 4.35%, yet payouts remain variable. September saw £497.1M in prizes, with odds of 1-in-21,000 per bond.
Mortgage Rates Surge to 6.89% as 10-Year Treasury Hits 20-Month High
The average 30-year fixed mortgage rate jumped to 6.89%, the highest in a year, as Treasury yields surged. Monthly payments on a $400,000 loan are now $236 above the 2026 low.
Top 1-Year CD Yields 4.35% APY, Outpacing National Average by 2.64 Points
Top one-year CD yields 4.35% APY, beating the 1.71% national average by 2.64 points. A $10,000 deposit earns $435 vs $171, highlighting the value of shopping for rates.
Mortgage Rate Rise Strengthens Homebuyer Leverage, Limits Affordability
The 30-year fixed mortgage rate rose to 6.66%, giving buyers more negotiating power as sellers outnumber them by 51%. Affordability stays limited.
Real Home Values Slip Again as Inflation Outpaces Price Growth
U.S. home prices rose 1.5% year-over-year in June, but 3.5% inflation kept real values falling for a 13th month. Regional gaps widen as mortgage rates stay elevated.