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US home sales weaken to slowest pace in more than a year as mortgage rates, home prices climb
2+ day, 10+ hour ago (608+ words) Sales of previously occupied U.S. homes declined in August to their slowest annual pace in more than a year as home shoppers grappled with rising mortgage rates and home prices. Existing home sales fell 2% last month from July to a seasonally…...
Average rate on a 30-year mortgage climbs to highest level in 13 months
1+ week, 2+ day ago (580+ words) Mortgage rates rose again this week, driving the average long-term U.S. home loan rate to its highest level in more than a year. The benchmark 30-year fixed rate mortgage rate rose 6.71% from 6.66% last week, mortgage buyer Freddie Mac said Thursday. One…...
Fed's Waller says central bank's next rate move depends on upcoming inflation report
1+ week, 2+ day ago (427+ words) WASHINGTON – Federal Reserve governor Christopher Waller said Thursday that an inflation report next week will largely determine whether he supports an interest rate hike later this month or not. The government will release August inflation figures Sept. 11, and if that…...
San Antonio home sales plunge 12.6%, the largest drop among major U.S. metros
3+ week, 2+ day ago (445+ words) San Antonio had the largest drop in home sales among the nation's major metros last month. Home sales fell 12.6% in July compared with last year, according to a recent Redfin report. It was the largest slump in demand reported by…...
'Many' Fed officials think higher rates will be needed if inflation stays high
3+ week, 3+ day ago (430+ words) WASHINGTON – Many Federal Reserve officials think the central bank will have to lift its key short-term interest rate in the coming months if inflation doesn't subside, minutes of the Fed's meeting last month showed. The minutes of the July 28-29 meeting,…...
Fact Check Team: Why one inflation report can move Wall Street
4+ week, 2+ day ago (615+ words) WASHINGTON (TNND) — The latest inflation report is out — and while the numbers may seem like just another set of economic statistics, they can have an immediate impact on Wall Street, interest-rate expectations and, eventually, borrowing costs for Americans. The report…...
Report warns blue-state renewable mandates drive higher power bills, raising affordability fears
4+ week, 2+ day ago (571+ words) by TATE ROSENTRETER | The Center Square Contributer (THE CENTER SQUARE) — Energy prices are higher on average in Blue states than in Red states — a gap two energy groups blame on policies that favor wind and solar at the expense of…...
Home prices climb to July record despite slower sales
1+ mon, 1+ day ago (433+ words) It’s that time of year again. Parents and kids across San Antonio are gearing up for the return to class. (TNND) — Home prices remain at record highs, despite a dip in sales activity last month. The National Association of Realtors…...
US existing homes fall 1.7% in July as record prices, high mortgage rates stifle would be-buyers
1+ mon, 1+ day ago (451+ words) WASHINGTON – Sales of previously occupied U.S. homes slowed again in July as record prices and the highest mortgage rates in a year prove to be an insurmountable hurdle for many prospective homebuyers. Existing home sales fell 1.7% last month from June…...
Wall Street week ahead: inflation, retail sales updates
1+ mon, 4+ day ago (235+ words) NEW YORK – Reports on inflation and retail sales are the central updates for Wall Street this week. The reports help give investors and economists a better sense of where prices are moving on a wide range of goods and services,…...