Source: WSJ Mortgage rates breached the 4% level for the first time in 10 months, challenging prospective buyers who are already facing difficulties in procuring properties. ITB is down 0.24%, while XHB is up 0.13%. The average 30-year fixed mortgage rate jumped over 4% for the first time since May 2019, up from 3.22% at the start of the year and the record-low 2.65% in … [Read more...] about Mortgage Rates Breach 4% for First Time in 10 Months
Bank of England Hikes Key Rate to 0.75% As Inflation Run Hot
Source: Bank of England The Bank of England raised its interest rate for the third time to 0.75% from the previous 0.5%, pointing to a desire to counter inflation which is rising amid high commodity prices. FTSE 100 is up +0.65%, GBPUSD is down -0.35%. The central bank hinted at further rate increases in the coming months, although it warned that “there are risks on both … [Read more...] about Bank of England Hikes Key Rate to 0.75% As Inflation Run Hot
US Unemployment Claims Retreat to 214,000
Source: US Labor Department Jobless claims in the United States retreated in the second week of March, following the increase recorded in the previous week. DXY is down 0.32%, while Gold is up 1.70%. Seasonally adjusted initial claims for the week ending March 12 fell by 15,000 to 214,000. This is the lowest since the 216,000 in the week ending February 26.The previous … [Read more...] about US Unemployment Claims Retreat to 214,000
Eurozone, EU Inflation Surges to Historic Highs as Energy Prices Soar
Source: Eurostat Inflation continued to accelerate in both the eurozone and the European Union in February, as energy prices drove the overall readings to historic highs. EZU is down 0.83%, and VGK is down 0.90% premarket. Eurozone inflation clocked in at 5.9% in February, up from the 5.1% in January and the 0.9% recorded the same month in 2021.Inflation in the EU stood … [Read more...] about Eurozone, EU Inflation Surges to Historic Highs as Energy Prices Soar
US Fed Hikes Rates by a Quarter Point for the First Time Since 2018
Source: Federal Reserve The Federal Reserve started a campaign of hiking interest rates that’s are set to be the most aggressive since the 2000s, as Chair Jerome Powell vowed to fight against inflation. DXY down -0.10%, EUR USD up +0.17% After hiking rates by a quarter-point, Powell informed reporters that inflation is extremely high, the labor market is overheated and … [Read more...] about US Fed Hikes Rates by a Quarter Point for the First Time Since 2018
