U.S. mortgage rates up for 6th week, with 30-year at 6.7%
The beefier rates mark highs not seen in 15 years, before a crash in the housing market triggered the Great Recession.
Interest Rates
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U.S. consumer confidence rises for second month
A strong job market and lower gas prices appear to be contributing to more optimistic views of the economy. But inflation and rising interest rates both threaten Americans’ propensity to spend.
Fed officials call for more rate hikes to fight inflation
The Federal Reserve will have to keep boosting its benchmark interest rate to a point that raises unemployment and gets inflation down from unusually high levels, two officials said in separate remarks Monday.
Fed attacks inflation with another big hike and expects more
The Federal Reserve boosted its benchmark short-term rate, which affects many consumer and business loans, to a range of 3% to 3.25%, the highest level since early 2008.
Federal Reserve likely to signal higher rate hikes ahead
Economists expect Fed officials to forecast that their key rate could go as high as 4% by the end of this year. They’re also likely to signal additional increases in 2023, perhaps to as high as roughly 4.5%.
Fed’s soft landing hinges on job market doing something strange
The Federal Reserve’s hopes for a “soft landing” rest on a rarely occurring phenomenon: Unemployment will rise not because workers lose their jobs, but because more people without jobs start looking for work.
Stocks fall as Fed chair says rates to remain high ‘for some time’
Federal Reserve leader Jerome Powell acknowledged the rate hikes will hurt the job market and U.S. households, but he also said the pain would be worse if inflation were allowed to fester.
Fed unleashes another big rate hike in bid to curb inflation
The Fed is tightening credit even while the economy has begun to slow, thereby heightening the risk that its rate hikes will cause a recession later this year or next.
Fed board member opens door to 1-point hike if demand rises
Such an increase would mark a further ramping up of the Fed’s rate hikes as it intensifies its fight against accelerating inflation. The Fed hasn’t raised its rate by 1 percentage point in several decades.
Fed could weigh historic 100 basis-point hike after inflation scorcher
Investors upped bets the central bank could make a one percentage-point rate hike at its July 26-27 meeting—which would be the largest increase of the modern Federal Reserve era.
Fed’s Bullard: Solid U.S. economy can handle rising rates
St. Louis Federal Reserve President James Bullard said he currently supports a 0.75 percentage point increase in the Fed’s benchmark short-term interest rate at its next meeting later this month.
Powell: Fed will decide on rate hikes ‘meeting by meeting’
Federal Reserve Chair Jerome Powell on Wednesday underscored the Fed’s determination to raise interest rates high enough to slow inflation, a commitment that has fanned concerns that the central bank’s fight against surging prices could tip the economy into recession.
Recession fears grow as Dow closes below 30,000, mortgage rates spike
Financial markets shuddered Thursday as they adjusted to the Federal Reserve’s latest attempts to address inflation.
Average U.S. mortgage rates make biggest jump in 35 years
Mortgage applications are down more than 15% from last year and refinancings are down more than 70%, according to the Mortgage Bankers Association.
Fed’s aggressive rate hikes raise likelihood of recession
Economic history suggests that aggressive, growth-killing rate hikes could be necessary to finally control inflation. And typically, that is a prescription for a recession.
Here’s how Fed’s rate increase could affect personal finances
The result of the rate hikes is increasingly higher borrowing costs as the Fed fights the most painfully high inflation in four decades and ends a decades-long era of historically low rates.
Fed tries to attack inflation with its largest rate hike since 1994
The Federal Reserve on Wednesday intensified its drive to tame high inflation by raising its key interest rate and signaling more large rate increases to come that could raise the risk of another recession.
Biggest rate hike since last century expected as Fed tackles inflation
A series of sizable increases would heighten borrowing costs for consumers and businesses, likely leading to an economic slowdown and raising the risk of a recession.
U.S. added 390,000 jobs in May as hiring remained robust
The job growth in May was high enough to keep the Federal Reserve on track to pursue what’s likely to be the fastest series of rate hikes in more than 30 years.
Fed officials signal rates might head to ‘restrictive’ levels
Federal Reserve officials agreed when they met earlier this month that they may have to raise interest rates to levels that would weaken the economy as part of their drive to curb inflation, which is near a four-decade high.