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Mortgage rates have surged past 7% and home sales in March posted their biggest monthly drop in more than a year, renewing pressure on the U.S. housing market as uncertainty over real-estate commissions buffets the industry.
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Adjustable-rate mortgage demand surges to highest level this year as 30-year rate keeps climbing
Mortgage applications fell 2.3% in the last week, the Mortgage Bankers Association said. The average rate for a 30-year mortgage is 7.29%.MarketWatch - Business -
US job openings fall to 8.5 million in March, the lowest level in more than 3 years
U.S. jobs openings slid in March to the lowest level in more than three years, but stayed at historically high levels in a sign that the job market remains resilient in the face of higher interest ratesABC News - Top stories -
Oil prices ends lower as weekly U.S. crude supplies rise by over 7 million barrels
Oil futures fell for a third straight session on Wednesday, settling at their lowest level since mid-March, after official U.S. data revealed an unexpected weekly rise of more than 7 million barrels in domestic crude inventories.MarketWatch - Business -
House prices fall as lenders raise mortgage rates
The Nationwide says the average cost of a home was down 4% on the peak seen in the summer of 2022.BBC News - Top stories - Mortgage -
Construction spending posts bigger-than-expected drop
Construction spending fell 0.2% in March, the Commerce Department reported Wednesday.MarketWatch - Business -
Migrant with alleged ISIS ties was living in the U.S. for more than two years, officials say
Immigration and Customs Enforcement recently arrested an Uzbek man with alleged ISIS ties, Jovokhir Attoev, after he had lived in the U.S. for over two years.NBC News - Top stories -
Microsoft signs deal to invest more than $10 billion on renewable energy capacity to power data centers
Microsoft and Brookfield Asset Management will develop 10.5 gigawatts of renewable energy, in a deal they describe as the largest of its kind.CNBC - Business - Microsoft -
Here’s where campus protesters have been arrested over the past day.
Officers at Virginia Commonwealth University in Richmond used riot gear and pepper spray.The New York Times - Top stories -
Home prices soar even higher in February, despite higher mortgage rates, says S&P Case-Shiller
It marked another increase after the prior month's annual gain of 6%, and the fastest rate of price growth since November 2022.CNBC - Business -
Demand for riskier adjustable-rate mortgages hits highest level of the year, due to rising rates
The share of ARM applications rose to 7.8% of mortgage demand last week, according to the Mortgage Bankers Association. That is the highest level of the year.CNBC - Business
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