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Average long-term U.S. mortgage rates rose this week for the first time in two months as global economic anxiety and market turbulence eased.
Fewer Americans signed contracts to buy homes in January, as the recent hot streak appears to have been curbed by a shortage of properties for sale and colder weather.
Average long-term U.S. mortgage rates fell this week as anxiety over the global economy persisted. Long-term rates resumed their decline after being unchanged last week following six straight weeks of easing.
Fannie Mae, the government-controlled mortgage company, said its net income in the fourth quarter nearly doubled on higher interest rates.
Average long-term U.S. mortgage rates were unchanged this week, but remained at historically low levels amid worries about the global economy.
Freddie Mac, the government-controlled mortgage company, said its net income jumped in the fourth quarter thanks to higher interest rates.
The Mexican government said Wednesday that it is dropping daily dollar auctions, raising interest rates and cutting government spending by 0.7 percent of GDP as it tries to counter falls of the peso and oil revenues.
Federal Reserve policymakers expressed growing concerns at their meeting last month about potential threats to the U.S. economy, including turbulence in financial markets, plunging oil prices and slowing growth in China and other emerging markets.
Federal Reserve Chair Janet Yellen said the U.S. economy faces a number of global threats that could hamper growth and compel the Fed to slow the pace of future interest rate hikes.
But as Chair Janet Yellen addresses Congress this week, most analysts and investors think the Fed will raise rates fewer than four times this year, if at all.
The Federal Reserve is keeping a key interest rate unchanged while pledging to closely monitor developments in the global economy and financial markets.
The U.S. economy finished last year on a seeming high note, with strong job growth in December and a vote of confidence from Federal Reserve policymakers in the form of a long-awaited interest rate increase. It’s been mostly downhill from there as an overvalued stock market has run head-on into anxiety about slowing global growth – with falling oil prices lubricating the skid.
Federal Reserve Chair Janet Yellen said Wednesday that an interest rate hike in December is a “live possibility” if the economy stays on track. Yellen described the U.S. economy as “performing well” right now, with solid growth in domestic spending.
The Federal Reserve is keeping U.S. interest rates at record lows in the face of persistent threats from a weak international economy and excessively low inflation.
The head of the Federal Reserve Bank in San Francisco said he’s learned over a long career that no one should assume things are going to stay the same.
WASHINGTON — The Federal Reserve plans to keep a key interest rate at a record low to support a U.S. job market that’s improving but still isn’t fully healthy and help lift inflation from unusually low levels. As expected, it’s also ending a bond purchase program that was intended to keep long-term rates low.
Fewer home sales and rising interest rates have led to the nation’s lowest level of mortgage lending in 14 years. Just $235 billion in home loans were started in the first three months of the year, the lowest figure recorded in a quarter since 2000, according to data from trade publication Inside Mortgage Finance.
WASHINGTON — The Federal Reserve says it will cut its monthly bond purchases by an additional $10 billion to $65 billion because of a strengthening U.S. economy. It's doing so even though the prospect of reduced Fed stimulus and higher U.S. interest rates has rattled global markets.
WASHINGTON — Chairman Ben Bernanke says the U.S. job market remains weak despite three months of strong hiring and that the Federal Reserve’s existing policies will help boost growth.