For the second month in a row, the average 30-year fixed rate mortgage has decreased, according to State Treasurer Todd Russ. Russ’ monthly report says the rate dropped from June to July by 1.01%, down to 6.85%. “Despite rates elevated and fluctuating within a relatively narrow range, many housing market experts expect rates to recede
This is The Takeaway from today’s Morning Brief, which you can sign up to receive in your inbox every morning along with: Small caps are solving Wall Street’s concentration problem. Though small caps stumbled Wednesday, in the five prior trading days, the Russell 2000 (^RUT) rocketed an eyewatering 12% as the Nasdaq Composite (^IXIC) barely
(Bloomberg) — The Federal Reserve’s favored inflation yardsticks are poised to show the tamest monthly advances since late last year — a stepping stone for officials to begin lowering interest rates, possibly as soon as September. Most Read from Bloomberg Economists expect no change in the May personal consumption expenditures price index and a minimal
(Bloomberg) — European stocks and US equity futures kept to small ranges for a second day, with traders waiting for US inflation reports to give markets fresh direction. US Treasuries and the dollar remained steady. Most Read from Bloomberg The Stoxx Europe 600 index was little changed, hovering near a record high. Shares in Anglo
New data from Freddie Mac reports a fifth straight rise in weekly average 30-year and 15-year fixed mortgage rates, while daily rates appear to have calmed after this week’s news of a Fed rate pause as of Friday, May 3, 2024. The current average rate for a 30-year fixed mortgage is 7.36% for both purchase