Mortgage Rates Fall in Latest Week. Freddie Mac Cites Worries over Bank Closures, and Volatility in Financial Markets
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Mortgage rates fall, providing some relief to home buyers
The U.S. 30-year mortgage rate is averaging at 6.79% Freddie Mac said in its latest weekly survey on Thursday.MarketWatch - Business - Mortgage -
Housing market frozen as home buyers ‘hold out’ for lower mortgage rates
Mortgage applications dipped 0.7% in the last week, the Mortgage Bankers Association said. The average rate for a 30-year mortgage is 6.93%.MarketWatch - Business - Mortgage -
Bank of England policymaker says markets pricing in too many rate cuts; Co-op Bank to cut 400 jobs – business live
Catherine Mann says market pricing is helping the central bank do its work in bringing borrowing rates down. The pound has risen since her comments, up 0.2% to $1.2661.. Bank of England policymaker Catherine Mann said financial markets are pricing ...The Guardian - World -
A U.K. court upheld the conviction of Tom Hayes, the alleged ringleader of a conspiracy among big banks and brokers to rig interest rates during the global financial crisis.
A U.K. court upheld the conviction of Tom Hayes, the alleged ringleader of a conspiracy among big banks and brokers to rig interest rates during the global financial crisis.The Wall Street Journal - World -
Sinopec’s profit fell in 2023 amid oil market volatility
The company said it expects international oil prices to “fluctuate at medium to high levels” in 2024.MarketWatch - Business -
Financial Services Roundup: Market Talk
Nordea, Direct Line and more in the latest Market Talks covering Financial Services.The Wall Street Journal - World -
Long-Term JGBs Edge Lower Amid Worries Over BOJ Rate-Hike Pace
Long-term JGBs edged lower in the Tokyo session, weighed by concerns over the BOJ’s rate-hike pace after last week’s policy normalization.The Wall Street Journal - World -
Mortgage demand stalls, even as interest rates moderate
The usually busy spring housing market is underway, but mortgage demand isn't moving.CNBC - Business - Mortgage -
Dow Industrials, S&P 500 Dip to Start Week
Stocks were mostly lower as chip makers came under pressure, after a report that China plans to phase out U.S.-made microprocessors in government computers and servers.The Wall Street Journal - World -
Fed Rate Outlook Looks Just Right for Banks
Banks look forward to relief on deposit costs but have no desire to go back to zero rates.The Wall Street Journal - World - Federal Reserve -
Nissan looks to address 'extreme market volatility' with 30 new models, EV cost cuts
Nissan is targeting an additional 1 million unit sales in the next three years and a 30% reduction in electric vehicle production costs by 2030.CNBC - Business -
Bank of England Holds Interest Rates After U.K. Inflation Slows
Britain’s central bank held its key interest rate at the highest level in 16 years for the fifth straight meeting.The New York Times - Business - United Kingdom -
Janet Yellen warns China against clean energy dumping
US Treasury secretary tells Beijing its trade practices will distort markets and harm workersFinancial Times - Business - China -
Top Fed official says ‘no rush’ on rates after ‘disappointing’ data
Progress on taming price rises ‘has slowed and may have stalled’, according to Christopher WallerFinancial Times - Business - Federal Reserve -
$75,000 for a baby? South Korean businesses float incentives as demographic crisis looms
Companies and politicians try new strategies to encourage workers to start familiesFinancial Times - Business -
Small Businesses Worry About Losing a Vital Marketing Channel If TikTok is Banned
Big Brands are less reliant on the app than small entrepreneurs, whose videos have helped many boom.Inc. - Business - Tiktok -
Limits placed on removal of land from food production in England
Government restrictions come after farmers raise concerns over domestic food securityFinancial Times - World -
Putin’s Ukraine obsession has blinded him to dangers at home
The Kremlin autocrat once wanted to align with the US in fighting terrorism but is trapped in lies and paranoiaFinancial Times - World - Ukraine -
Jobless claims fall slightly to 210,000, underscoring strong labor market
The number of Americans who applied for unemployment benefits last week fell slightly to 210,000 and continued to hover at very low levels in a sign of strength for the economy.MarketWatch - Business -
A UK financial trader dubbed the ringleader of an interest rate manipulation scandal loses an appeal
A British financial trader described as the ringleader in the manipulation of a key interest rate before and after the global financial crisis has lost his appeal to have his conviction quashedABC News - World - United Kingdom -
Eurozone Bond Yields Drift Lower, Liquidity Seen Light Ahead of Easter
Eurozone government bond yields were slightly lower in early trading, with investors awaiting fresh drivers in a week when market liquidity is likely to be light ahead of the Easter holidays.The Wall Street Journal - World -
‘Lagging’ housing market, high interest rates drag on MillerKnoll’s sales
The furniture maker said that a “lagging” housing market, rising interest rates, and other headwinds contributed to lower sales.MarketWatch - Business -
Nigeria's central bank hikes interest rate to 24.75% as it battles sky-high inflation, currency crisis
The Central Bank of Nigeria on Tuesday hiked its key interest rate by 200 basis points, as Africa's largest economy looks to recover from a historic currency crisis and soaring inflation.CNBC - Business -
Three Fed interest-rate cuts this year? Yes, top banking economists say.
Top economists at big U.S. banks predict the Federal Reserve will cut interest rates three times this year — with the first reduction in June — even though inflation is unlikely to slow much further in 2024.MarketWatch - Business - Federal Reserve -
Trump got some good financial news this week. But there’s a dark side | Margaret Sullivan
I worry about national security amid Trump’s money ups and downs – they make way for influence-peddling and mischief. Get Margaret Sullivan’s latest columns delivered straight to your inboxDonald Trump has had an encouraging day or two on the ...The Guardian - World - Donald Trump -
Good Friday’s PCE data brings latest inflation reading — but markets are closed
Stock-market investors get a key piece of economic data on Good Friday, but won’t be able to trade on it.MarketWatch - Business -
Polish central bank chief seeks truce with Tusk over ‘idiotic’ accusations
Adam Glapiński insists he did not abuse his powers in bid to keep Law and Justice party in powerFinancial Times - World -
My wife and I owe $450,000 on a $1.2 million house with a 3.5% mortgage rate. Our payments will soon increase. Should we pay it off or invest in stocks?
“We are in our late 60s and in good health, and we have a second home worth $900,000 that is fully paid for.”MarketWatch - Business -
Don't sweat the prospect of no Fed rate cuts, economist says — markets will still march higher
Markets will continue to rally even if the Fed chooses not to cut interest rates this year, according to Steven Blitz, TS Lombard's chief U.S. economist.CNBC - Business - Federal Reserve -
Having ridden the New York commercial-property boom together, NYCB and Meridian Capital are now in a changed world of higher interest rates and falling building valuations.
Having ridden the New York commercial-property boom together, NYCB and Meridian Capital are now in a changed world of higher interest rates and falling building valuations.The Wall Street Journal - World - New York -
2 major market themes that could make or break stocks after this week's rally
Wall Street largely stumbled on Friday but still managed to post strong weekly gains.CNBC - Business -
These 5 portfolio stocks outran the market in Wall Street's strong week. Here's what fueled their gains
The Club's two chipmakers and its lone automaker were among the top-performing portfolio stocks this week.CNBC - Business -
Poland's ruling coalition wants the central bank chief tried in court over hurting state interests
Lawmakers with Poland’s ruling pro-European Union coalition have launched a rare process to bring the central bank chief before a special court on allegations of acting against the country’s financial interestsABC News - World -
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UBS makes Ermotti best-paid European bank boss
Swiss lender awards returning chief executive $15.9mn for steering integration of Credit SuisseFinancial Times - Business -
Dodgers loom over all MLB odds in the futures markets as season begins
In just about every betting market, the Dodgers are a factor.Yahoo Sports - Sports - MLB -
Over 130 abducted schoolchildren in Nigeria's northwest are rescued after weeks in captivity
Officials in Nigeria say 137 schoolchildren have been rescued more than two weeks after they were seized in the northwestern state of Kaduna and marched into the forestABC News - World -
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U.S. Natural Gas Futures Settle Lower in Volatile April Expiry
U.S. natural gas settled lower as the April contract went off the board in a flurry, settling down 2.5%.The Wall Street Journal - World -
Visa, Mastercard and the largest U.S. credit-card issuing banks agreed to a settlement with merchants over the fees charged for swiping credit cards.
Visa, Mastercard and the largest U.S. credit-card issuing banks agreed to a settlement with merchants over the fees charged for swiping credit cards.The Wall Street Journal - World