The average rate on 30-year mortgages — the most popular kind among Americans — rose to the highest level since 2002, tracking the Federal Reserve’s aggressive campaign of rate increases.
Category: United States Economy
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U.S. Mortgage Rates Soar Past 7%
The New York Times – Business: -
US Economy Grew at 2.6% Annual Rate in Q3, GDP Report Shows
The New York Times – Business:Gross domestic product increased 0.6 percent after two quarters of decline, but key components continue to show an economic slowdown.
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Biden Hopes to Amplify Contrast With Republicans on Economic Policy
The New York Times – Business:Visiting Syracuse, N.Y., which has benefited from recent legislation, the president will point to his administration’s efforts to lower costs for families.
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Another Yield Curve Inversion Rings Recession Alarm Bells
The New York Times – Business:A so-called inverted yield curve between three-month and 10-year interest rates is considered by Wall Street as a reliable sign of an impending economic slump.
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Republicans Denounce Inflation, but Few Economists Expect Their Plans to Help
The New York Times – Business:Proposed tax and spending cuts by the G.O.P., which is making a push to take back Congress, are unlikely to bring down rapidly rising prices any time soon.
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For Disabled Workers, a Tight Labor Market Opens New Doors
The New York Times – Business:With Covid prompting more employers to consider remote arrangements, employment has soared among adults with disabilities.
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Why the Price of Gas Has Such Power Over Us
The New York Times – Business:“When prices go up, we have this feeling of oppression that we can’t do everything we want.”
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The Week in Business: Liz Truss Concedes to the Markets
The New York Times – Business:Americans are combining leisure and business travel. Tech profits are slowing. And the deadline for Elon Musk to buy Twitter is coming up.
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Relentless Rise in Interest Rates Looms Over Another Volatile Week for Markets
The New York Times – Business:The 10-year U.S. Treasury yield, which underpins everything from mortgages to credit cards, was on course to rise for a twelfth consecutive week, matching the longest streak since 1984.
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Investing in the Shadow of a Recession
The New York Times – Business:Recessions come in many varieties. Any would bring pain, but if history is a guide, stocks and bonds are likely to rise eventually, our columnist says.
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The Race is On to Find the U.K.’s Next Prime Minister
The New York Times – Business:Turmoil returned to Britain’s financial markets as the Conservative Party once again seeks a new candidate to serve as prime minister.