US stocks drop at the open, still reeling from tough Powell speech

US stocks drop at the open, still reeling from tough Powell speech

This post was originally published on this site Equities on Wall Street headed further into negative territory on Monday, still feeling the sting of the no-nonsense speech Federal Reserve Chair Jerome Powell last week. The Fed warned of “pain” ahead for Americans in the battle against inflation, with no chance...

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Mortgage rates bounce back on strong employment and inflation data

Mortgage rates bounce back on strong employment and inflation data

This post was originally published on this siteThe 30-year fixed average, which had fallen below 5 percent, rebounded to 5.22 percent.

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Slowdown in home prices broke record in June: research firm

Slowdown in home prices broke record in June: research firm

This post was originally published on this siteAnnual home price growth dropped by nearly two percentage points in June, the largest single-month slowdown on record, according to new research. Black Knight, a real estate software and analytics company that has been tracking the metric since the early 1970s, found that...

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Fed poised to hike rates by three-quarters of a percentage point to fight inflation

Fed poised to hike rates by three-quarters of a percentage point to fight inflation

This post was originally published on this siteThe increase will be the Fed’s fourth rate hike to help cool down the economy and lower prices, which are surging at 40-year highs.

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Democrats warn Fed’s rate hikes may trigger recession

Democrats warn Fed’s rate hikes may trigger recession

This post was originally published on this siteSenate Democrats are calling on the Federal Reserve to proceed cautiously on raising interest rates when board members meet this week, warning that fighting inflation too aggressively could hurt the economy. Gross domestic product (GDP) data for the second quarter will be published...

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Fed official signals willingness to hike interest rates full percentage point

Fed official signals willingness to hike interest rates full percentage point

This post was originally published on this site US Federal Reserve Governor Christopher Waller signaled Thursday he may support a full percentage point interest rate hike this month — the biggest increase in more than 30 years and a further indication of the central bank’s determination to crush sky-high inflation....

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Hiring Slowed in June From Robust Pace, Economists Estimate

Hiring Slowed in June From Robust Pace, Economists Estimate

This post was originally published on this siteEconomists estimate that hiring continued at a solid pace in June, but slowed from prior months as the broader economy weakened under the weight of high inflation and rising interest rates.

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Housing market slowdown takes hold as mortgage rates dig in

Housing market slowdown takes hold as mortgage rates dig in

This post was originally published on this siteTOWN SQUARE | Slowing demand means that some sellers decided to lower their sales price to get an offer or during negotiations, according to Redfin.

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Mortgage rates hit 14-year high as inflation persists

Mortgage rates hit 14-year high as inflation persists

This post was originally published on this siteThe 30-year fixed-rate average soared to 5.78 percent this week, making its biggest one-week jump since 1987.

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