Mortgage Rates Fall to 6.5%, Hitting Their Lowest Since October 2024
Mortgage rates hit 6.5%, the lowest level since October 2024 Mortgage rates moved slightly lower again this week following the Labor Day long weekend, reaching a fresh 2025 low. The average 30-year mortgage rate was 6.5% this week through Wednesday, according to Freddie Mac data, down from 6.56% a week earlier. The average 15-year rate […]
KC Fed’s Schmid Cautious About September Rate Cut, Highlights Importance of Upcoming Data
KC Fed’s Schmid wary of September rate cut, notes ‘very consequential’ data in coming weeks Kansas City Fed president Jeffrey Schmid said on Thursday the August jobs report due out Sept. 5 will be “very consequential” in shaping the central bank’s next move. “I think the data coming between now and the September meeting is […]
July Inflation Data Leaves Economists Anxious
July inflation data has economists on edge Markets ended the week largely unfazed by a hotter wholesale inflation print and signs of firming consumer prices, but some economists warn the underlying story is more concerning than investors seem to believe. The Producer Price Index (PPI) for July surged to a three-year high, with services inflation […]
What You Need to Know This Week
Stocks drifted higher over the past week, with the S&P 500 (^GSPC) notching several record closes as investors digested more signs of cooling inflation amid resilient economic growth data. For the week, the S&P 500 and Dow Jones Industrial Average (^DJI) were up about 0.7%. Meanwhile, the Nasdaq Composite (^IXIC) popped nearly 1%. In the […]