Next Week in Business: jobless claims, mortgage rates and Wall Street's first trading day of 2025

A look at some of the key business events and economic indicators upcoming next week. LAYOFFS UPDATE The Labor Department issues its weekly tally of new unemployment benefit claims on Thursday. The number of Americans applying for unemployment benefits...

Average rate on a 30-year mortgage climbs to 6.85%, highest since July, as bond yields keep rising

WASHINGTON (AP) — The average rate on a 30-year mortgage in the U.S. rose for the second week in a row to its highest level since mid-July, reflecting a recent jump in the bond yields that lenders use as a guide to price home loans. The rate rose to 6.85% from 6.72% last week,...

Average rate on 30-year mortgage snaps 3-week slide and rises to highest level since late November

The average rate on a 30-year mortgage in the U.S. rose this week to its highest level since late November, reflecting a recent uptick in the bond yields that lenders use as a guide to price home loans. The rate rose to 6.72% from 6.6% last week, mortgage buyer Freddie Mac said...

Bank of England warns of 'heightened uncertainty' as it keeps interest rates on hold

LONDON (AP) — The U.K.’s central bank warned Thursday of “heightened uncertainty" as it kept interest rates on hold after inflation moved further above target, even at a time when the British economy is flatlining at best. The Bank of England’s nine-member Monetary Policy...

The Fed expects to cut rates more slowly in 2025. What that could mean for mortgages, debt and more

NEW YORK (AP) — The Federal Reserve's third interest rate cut of the year will likely have consequences for debt, savings, auto loans, mortgages and other forms of borrowing by consumers and businesses. But with inflation pressures still elevated and with concern that...

Economists' 2025 housing market forecasts largely call for mortgage rates to stay above 6% next year

LOS ANGELES (AP) — Home shoppers hoping for more attractive mortgage rates next year may be disappointed. That's the takeaway from several economists' 2025 housing forecasts, most released over the past couple of weeks. Most of the eight forecasts call for the...

Average rate on 30-year mortgage hits 6.6%, its third straight weekly decline

The average rate on a 30-year mortgage in the U.S. eased for the third week in a row, a welcome trend for prospective homebuyers during what's typically a less competitive time of the year for the housing market. The rate dropped to 6.6% from 6.69% last week, mortgage buyer Freddie...

Average rate on a 30-year mortgage in the US falls to 6.69%

The average rate on a 30-year mortgage in the U.S. eased again this week, slipping to its lowest level since late October. The rate dropped to 6.69% from 6.81% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the rate averaged 7.03%. Borrowing costs on...

Average rate on a 30-year mortgage in the US slips to 6.81%

The average rate on a 30-year mortgage in the U.S. eased this week, though it remains near 7% after mostly rising in recent weeks. The rate slipped to 6.81% from 6.84% last week, mortgage buyer Freddie Mac said Wednesday. That’s still down from a year ago, when the rate averaged...

Average rate on a 30-year mortgage eases in the US, though it remains near 7% after recent run-up