Mortgage refinance applications descended by 43% last week versus the same week in 2021, according to the Mortgage Bankers Association's seasonally adjusted index. The latest data is the first year-on-year drop since March 8, 2019. Mortgage rates plunged in 2020 on COVID-19 fears, driving a spike in refinance demand.Applications last week fell 5% from the previous week. The … [Read more...] about Mortgage Loan Applications Plummet As Rates Climb
Forex News
U.S. Inflation Clocks In Slower Than Forecast In February
The U.S. core consumer price index rose 0.1% in February to fall below market expectations and signal that pressures remain tame, according to Bureau of Labor Statistics data. The core consumer price index which excludes volatile items, increased 1.3% from a year earlier. Growth was reported in the indexes for shelter, recreation, medical care, and motor vehicle … [Read more...] about U.S. Inflation Clocks In Slower Than Forecast In February
Equity Futures Jump On Inflation Data
U.S. equity futures jumped after economic data suggested that inflation pressures remain tame. S&P 500 Futures climbed 0.3% as of 8:46 a.m. New York time; the Stoxx Europe 600 grew 0.3%; the MSCI Asia Pacific rose 0.4%; and the MSCI Emerging Market Index gained 0.8%.U.S. 10-year Treasuries rose to 1.55%; Germany's 10-year yield fell to -0.31%; Britain's 10-year yield … [Read more...] about Equity Futures Jump On Inflation Data
China Producer Prices Climb to Two-Year Highs, Spurring Global Inflation Risks
The Chinese producer price index rose to 1.7% in February to surpass expectations and mark the fastest pace in over two years, official data showed. Economists predicted the index to increase 1.5% last month from 0.3% in January.The latest data raises expectations of higher global prices as factories hike prices for exports. Chinese producer prices have already been a major … [Read more...] about China Producer Prices Climb to Two-Year Highs, Spurring Global Inflation Risks
Gold Price Retreats Even as Inflation Expectations Soar
The gold price has struggled in the past few weeks as the US Treasury yields rise. It is trading at $1,715, which is the lowest it had been since June last year. Gold as an inflation hedge? The price of gold has dropped by more than 17% since August last year. In the same period, Bitcoin and US equities have tested their all-time highs. Ironically, the … [Read more...] about Gold Price Retreats Even as Inflation Expectations Soar
