Source: Reuters US home loan interest rates climbed to a three-year low in the past week, with homebuyers rushing to make acquisitions before rates jump even higher. XHB is up 1.43%, while ITB is up 1.58%. The average contract rate for the 30-year fixed-rate mortgage climbed 5.13% in the week ending April 8, up from 4.90% the previous week.This is 1.5 percentage points … [Read more...] about US Home Loan Rates Jump to Highest Since November 2018
Forex News
Commercial Crude Inventories Seen to Have Dropped to Eight-Year Low in Q1
Source: Energy Information Administration Commercial crude oil inventories in member countries of the Organization for Economic Co-operation and Development (OECD) are expected to have hit an eight-year low in the first quarter of the year. OIL is up 1.65%, while USO is up 1.58%. The EIA estimated that the commercial oil inventories in the OECD hit 2.61 billion barrels in … [Read more...] about Commercial Crude Inventories Seen to Have Dropped to Eight-Year Low in Q1
UK Inflation Soars to Historic High in March
Source: Office for National Statistics Inflation in the United Kingdom climbed to its highest level in three decades in March, driven mainly by higher prices of motor fuels. EWU is up 0.48%, while EZU is up 0.05% premarket. The consumer prices index clocked in at 7.0% in March, up from 6.2% in February and 0.7% in March 2021. This is the highest since March 1992’s … [Read more...] about UK Inflation Soars to Historic High in March
UK House Prices Jump by Annual 10.9% in February
Source: Office for National Statistics The average house price rose by 10.9% over the year to February 2022, an increase from 10.2% in January 2022. FTSE 100 up +0.0065%, GBPUSD down -0.01% Prices increased by 0.8% in the month, after a 1.1 monthly increase in January despite the possibility of rate hikes to ease inflation, driving up borrowing costs.The annual house … [Read more...] about UK House Prices Jump by Annual 10.9% in February
US Inflation Quickens to Four-Decade High of 8.5%
Source: Bureau of Labor Statistics Inflation surged to 8.5% in March, hitting the highest level in over four decades. QQQ is up 1.33%, while SPY is up 0.85%. The Consumer Price Index for All Urban Consumers clocked in at 8.5%, the highest since December 1981.The acceleration was mainly due to energy prices which surged by 32.0%. Energy commodities soared by 48.3%, … [Read more...] about US Inflation Quickens to Four-Decade High of 8.5%