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Mortgage rates climb to nearly 6.3%, the highest level since 2008 |  CNN Business

Mortgage rates climb to nearly 6.3%, the highest level since 2008 | CNN Business

Mortgage rates jumped for the fifth consecutive week, rising above 6% again in the face of yet another aggressive interest rate hike by the Federal Reserve. The 30-year fixed-rate mortgage averaged 6.29% in the week ending Sept. 22, down from 6.02% the previous week, according to Freddie Mac. That’s significantly higher than this time last …

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The United States and its allies join forces on chips.  This could prevent China from reaching the next level

The United States and its allies join forces on chips. This could prevent China from reaching the next level

Major chipmaking nations, including the United States, are forming alliances, in part to secure their semiconductor supply chain and to prevent China from reaching the forefront of the industry, analysts told Reuters. CNBC. Countries like the United States, South Korea, Japan and Taiwan, which have strong semiconductor industries, have sought to forge partnerships around this …

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Existing home sales fall in August to lowest level since 2020

Existing home sales fall in August to lowest level since 2020

The Wall Street Journal’s chief economics correspondent Nick Timiraos discussed the strategy surrounding the Fed’s supposed decision to fight inflation by potentially raising interest rates another 75 basis points ahead of their announcement on Wednesday. Existing home sales in the United States slowed for the seventh consecutive month in August, rising mortgage ratessoaring inflation and …

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Sudden sell-off in short-term debt pushes rate near 'magical' level that 'scares' markets

Sudden sell-off in short-term debt pushes rate near ‘magical’ level that ‘scares’ markets

The yield on the 1-year Treasury is testing 4%, a level that traders say could spill over to other rates and send shivers through financial markets, as the Federal Reserve continues in earnest with its campaign to reduce its balance sheet by $8.8 trillion. . This balance sheet process, known as “quantitative tightening,” is intended …

Sudden sell-off in short-term debt pushes rate near ‘magical’ level that ‘scares’ markets Read More »

Ray Dalio says watch out for rates hitting this level as Wall Street stocks will take a 20% hit

Ray Dalio says watch out for rates hitting this level as Wall Street stocks will take a 20% hit

After that CPI shock earlier in the week, Wall Street is bracing for a fresh batch of data, including retail sales, on Thursday with a deeper and deeper inversion in the yield curve between bonds at 2 and 10 years giving increasingly gloomy economic signals. There is good news, however, as a disastrous rail strike …

Ray Dalio says watch out for rates hitting this level as Wall Street stocks will take a 20% hit Read More »

The rail strike is a 'polar vortex level shock to the freight market'

The rail strike is a ‘polar vortex level shock to the freight market’

A railroad strike or lockout that could take effect on Friday has brought to light the potential for a historically significant supply chain disruption that would affect every mode of trucking to some extent. The trucking industry is the largest customer of rail freight, and rail carries over 40% of all long-haul freight in the …

The rail strike is a ‘polar vortex level shock to the freight market’ Read More »