Average rate on a 30-year mortgage in the US rises to highest level since July

The average rate on a 30-year mortgage in the U.S. edged closer to 7% this week, climbing to its highest level since July. The rate rose to 6.84% from 6.78% last week, mortgage buyer Freddie Mac said Thursday. That’s still down from a year ago, when the rate averaged 7.29%. ...

US applications for jobless benefits fall to 213,000, remaining near 7-month lows

The number of Americans applying for unemployment benefits fell again last week, remaining near seven-month lows. The Labor Department reported Thursday that jobless claim applications fell by 6,000 to 213,000 for the week of Nov. 16. That’s fewer than the 220,000 analysts...

Federal Reserve's likely slowdown in rate cuts could disappoint borrowers

WASHINGTON (AP) — Just a few weeks ago, the path ahead for the Federal Reserve looked straightforward: With inflation cooling and the job market slowing, the Fed appeared on track to steadily cut interest rates. In September, its officials predicted that they would reduce their...

Stock market today: Wall Street tumbles as the “Trump bump” fades and vaccine makers sink

NEW YORK (AP) — U.S. stocks tumbled Friday as the “Trump bump” that Wall Street got from last week’s presidential election, along with a cut to interest rates by the Federal Reserve, kept fading. The S&P 500 dropped 1.3% for its worst day since before Election Day to...

How major US stock indexes fared Friday, 11/15/2024

U.S. stocks fell to their worst loss since Election Day as the rally that Wall Street got from last week’s victory for Donald Trump and a cut to interest rates by the Federal Reserve kept fading. The S&P 500 sank 1.3% Friday to close a losing week. The Dow Jones Industrial...

Powell says Fed will likely cut rates cautiously given persistent inflation pressures

WASHINGTON (AP) — Chair Jerome Powell said Thursday that the Federal Reserve will likely cut its key interest rate slowly and deliberately in the coming months, in part because inflation has shown signs of persistence and the Fed's officials want to see where it heads next. ...

Stock market today: Wall Street weakens as its post-election boom slows some more

NEW YORK (AP) — U.S. stocks slipped Thursday as the market’s big burst following Donald Trump’s election continued to cool. The S&P 500 fell 0.6%, though it’s still near its all-time high set on Monday. The Dow Jones Industrial Average dropped 207 points, or 0.5%, and...

Powell says Fed will likely cut rates cautiously given persistent inflation pressures

The number of Americans filing for jobless claims falls to lowest level in 6 months

The number of Americans applying for unemployment benefits fell to the lowest level in six months last week as layoffs remain at relatively healthy levels. The Labor Department reported Thursday that jobless claim applications fell by 4,000 to 217,000 for the week of Nov. 9. That’s...

US wholesale inflation picks up slightly in sign that some price pressures remain elevated

WASHINGTON (AP) — Wholesale prices in the United States rose last month, remaining low but suggesting that the American economy has yet to completely vanquish inflationary pressure. Thursday's report from the Labor Department showed that its producer price index — which tracks...