Inflation Rises to 40-Year High on Fuel, Food Prices in Run-Up to Fed Meeting
The CPI data bolsters the Federal Reserve’s plan to begin raising its benchmark rate next week for the first time in three years.
March 10, 2022 2 MIN
The CPI data bolsters the Federal Reserve’s plan to begin raising its benchmark rate next week for the first time in three years.
Homeowners with mortgages gained an average of $55,300 in equity, CoreLogic said in a report on Thursday.
The U.S.housing market likely could withstand a recession without a downturn in home prices, according to Jaret Seiberg, a housing policy analyst for Cowen Washington Research Group.
Employers added 678,000 workers to their payrolls in February, smashing economists' estimates and sending the unemployment rate to a two-year low.
Mortgage rates tumbled in the U.S. as the Russian invasion of Ukraine caused global investors to shift assets into dollar-denominated bonds.
House hunters are contending with a shortage of available properties, as well as rising mortgage rates, NAR says in a report.
Sales of new houses in January retreated for the first time in three months as higher mortgage rates eroded buying power.
Demand for real estate is high as consumers try to buy homes before financing costs rise further, said NAR's Yun.
Rates are rising as the bond markets lose their biggest buyer – the Federal Reserve.
Housing starts plunged by 4.1% last month as Omicron worsened shortages of labor and building supplies.
