The Latest Breaking News from the Federal Reserve

Asian shares are mostly falling, discouraged by a Wall Street slump that followed a blowout profit report from Nvidia and mixed reports on the U.S. economy

The annual meeting (24-26 August) hosted by the US Federal Reserve will be closely watched, especially Federal Reserve chair Jerome Powell on Friday. While the policy of raising interest rates to lower inflation is no longer in doubt, observers will be watching out for clues as to when the US…

Latest mortgage rates data shows a tough landscape for prospective homebuyers – and sellers.

Summer doldrums have hit the stock market, which cruised along nicely in the first half of the year following a torrid 2022

Mortgage buyer Freddie Mac said the average rate on the benchmark 30-year home loan rose to 7.09% — a year ago, the rate averaged 5.13%.

The yield on the 10-year Treasury increased 1.6 basis points to reach 4.258% on Wednesday afternoon, up from 4.22% on Tuesday. This is the highest level it had been since June 13, 2008.

The average cost of a 30-year fixed-rate mortgage jumped to 7.09% this week, the highest in over two decades. Rising interest rates have put homes out of reach for many would-be buyers.

BlackRock Investment Institute warns that we’re in the weakest period of growth “in the postwar era outside the Global Financial Crisis.”

September S&P 500 futures (ESU23) are down -0.09%, and September Nasdaq 100 E-Mini futures (NQU23) are down -0.05% this morning as market participants looked ahead to the release of the minutes of the Federal Reserve’s latest policy meeting as well as quarterly earnings reports from high-profile retailers.