Source: Mortgage Bankers Association The interest rate on home loans increased for a fourth consecutive week last week, with residential real estate borrowing costs being at the highest level in almost two years. DXY down -0.15%, EUR USD up +0.17% The Mortgage Bankers Association stated its weekly measure of the average contract rate on a 30-year, fixed-rate mortgage rose … [Read more...] about US Mortgage Rates Jump to Highest Levels in Almost 2 Years
Forex News
UK Consumer Prices Grow at Fastest Pace in Almost Three Decades
Source: Office for National Statistics Consumer prices in the United Kingdom closed in 2021 with the highest growth in almost 30 years, still impacted by the COVID-19 lockdowns imposed in the previous year. EWU is up 0.12% premarket. Annual inflation clocked in at 5.4% in December 2021, up from 5.1% in November and 0.6% the same month in 2020. This is the highest since … [Read more...] about UK Consumer Prices Grow at Fastest Pace in Almost Three Decades
Euro Area Current Account Surplus Jumps by €5 Billion in November
Source: European Central Bank The euro area posted a 24 billion euros current account surplus in November last year, an increase of 5 billion euros from the previous month. DAX is up +0.23%, EURUSD is up +0.15%. Services surplus was recorded at 23 billion euros while goods were reported at a 16 billion euros surplus. Secondary income had a deficit of 15 billion … [Read more...] about Euro Area Current Account Surplus Jumps by €5 Billion in November
Homebuilder Confidence Drops as Affordability Declines
Source: NAHB Homebuilder confidence slipped slightly in the first month of the year, dragged by affordability concerns during the month. XHB is down 2.50%. The NAHB/Wells Fargo Housing Market Index (HMI) stood at 83 in January, down from 84 in December 2020 and the same as the level recorded in January 2021.NAHB Chairman Chuck Fowke attributed the decline to the inflation … [Read more...] about Homebuilder Confidence Drops as Affordability Declines
New York Activity Slips to Negative Territory in January
Source: New York Fed Business activity in New York posted a steep decline in January, falling to negative territory after 18 straight months of positive readings. General business conditions dropped by 33 points to -0.7% during the month, indicating that growth stalled after a period of significant expansion.Some 22% of respondents said conditions improved over the month, … [Read more...] about New York Activity Slips to Negative Territory in January
