Interest Rates – Page 24

8Jul

By adminNo Comments

Health

Cracks Open in the Labor Market

Employers slow their hiring pace in June, and Washington is no help.

Mortgage Rates Surge to Highest Level This Year | Mortgages and Advice

7Jul

By adminNo Comments

Money

Mortgage Rates Surge to Highest Level This Year | Mortgages and Advice

Mortgage rates jumped higher across the board this week, with both fixed and adjustable interest rates trending upward. The 30-year fixed rate was 7.26%, the highest it's been since peaking at 7.33% in November 2022. Here are the current mortgage rates, without discount points unless otherwise noted, as of July 6: 30-year fixed: 7.26% (up from 7.15% a week ago). 20-year fixed: 7.32% (up from 7.24% a week ago). 15-year fixed: 6.61% (up from 6.58% a week ago). 10-year fixed: 6.79% (up from 6.74% a week ago). 5/1 ARM: 6.12% (up from 6.1% a week ago). 7/1 ARM: 6.25% (up from 6.23% a week ago). 10/1 ARM: 6.5% (up from 6.43% a week ago). 30-year jumbo loans: 7.31% (up from 7.22% a week ago). 30-year FHA loans: 6.51% with 0.05 point (up from 6.27% a week ago). VA purchase loans: 6.69% ...

Gold Prices Slide to One-Week Low on Strong US Private Payrolls Data

6Jul

By adminNo Comments

Business

Gold Prices Slide to One-Week Low on Strong US Private Payrolls Data

Last Updated: July 07, 2023, 02:06 ISTNew York, United States of America (USA)Gold is highly sensitive to rising U.S. interest rates, as they increase the opportunity cost of holding non-yielding bullion. Spot gold was down 0.4% at $1,910.15 per ounce by 2:08 p.m. EDT (1808 GMT), while U.S. gold futures settled 0.6% lower at $1,915.40Gold prices slipped to a near one-week low on Thursday after a better-than-expected U.S. private payrolls report fuelled expectations for more rate hikes from the Federal Reserve, lifting Treasury yields higher.Spot gold was down 0.4% at $1,910.15 per ounce by 2:08 p.m. EDT (1808 GMT), while U.S. gold futures settled 0.6% lower at $1,915.40.U.S. private payrolls increased more than expected in June, indicating strength in the labour market despite growing ri...

Desire for Interest on Deposits Is Bad for Main Street Banks

6Jul

By adminNo Comments

Money

Desire for Interest on Deposits Is Bad for Main Street Banks

Community banks expected the Fed’s interest-rate increases to help them, but instead they are hurting.

5Jul

By adminNo Comments

Money

Rebound in Rates Puts Pressure on Banks

U.S. banks are poised for a rebound in unrealized losses on their bond and loan portfolios, after a surge in market interest rates.

The Fed and Investors Could All Be Wrong on Rates

5Jul

By adminNo Comments

Money

The Fed and Investors Could All Be Wrong on Rates

The right level for interest rates will eventually be much lower, according to financial markets and Federal Reserve policy makers, but that is no certain thing.

Central Banks Right to Continue Tightening, Says Edmond de Rothschild

5Jul

By adminNo Comments

World

Central Banks Right to Continue Tightening, Says Edmond de Rothschild

Central banks are right to keep raising interest rates to prevent inflation from reaccelerating, and this shouldn’t pose a major threat to the economy, Edmond de Rothschild Asset Management told Dow Jones Newswires.

RBA Stands Pat on Rate to Assess Economic Outlook

4Jul

By adminNo Comments

World

RBA Stands Pat on Rate to Assess Economic Outlook

SYDNEY—The Reserve Bank of Australia left official interest rate on hold Tuesday saying that the decision gives it time to further assess the mixed economic outlook. The official cash rate remained at 4.10%, with economists split ahead of the policy meeting on whether the RBA would tighten further or remain on the sidelines. “Interest rates...

Mortgage Rates (and Home Prices) Rebound Higher | Mortgages and Advice

3Jul

By adminNo Comments

Money

Mortgage Rates (and Home Prices) Rebound Higher | Mortgages and Advice

Mortgage rates jumped higher this week, with the 30-year rate increasing seven basis points to 7.15%. Fixed rates increased across the board, while adjustable mortgage rates decreased or stayed about the same.Here are the current mortgage rates, without discount points unless otherwise noted, as of June 29: 30-year fixed: 7.15% (up from 7.08% a week ago). 20-year fixed: 7.24% (up from 7.08% a week ago). 15-year fixed: 6.58% (up from 6.52% a week ago). 10-year fixed: 6.74% (up from 6.61% a week ago). 5/1 ARM: 6.1% (down from 6.12% a week ago). 7/1 ARM: 6.23% (up from 6.22% a week ago). 10/1 ARM: 6.43% (down from 6.45% a week ago). 30-year jumbo loans: 7.22% (up from 7.15% a week ago). 30-year FHA loans: 6.27% with 0.05 point (up from 6.19% a week ago). VA purchase loans: 6.53% wi...

Ousting of Lowe Will Raise Questions About RBA Independence

23Jun

By adminNo Comments

World

Ousting of Lowe Will Raise Questions About RBA Independence

SYDNEY—Reserve Bank of Australia Gov. Philip Lowe looks likely to be unceremoniously removed from his job next month amid a new and worrying era of political pressure being exerted on the setting of interest rates, and growing doubts about the cherished independence of the central bank in the future. Treasurer Jim Chalmers said this week he will appoint the next governor in July, with the announcement coming just ahead of a list of potential candidates for the RBA’s top job leaked to national newspapers. Those...