When the President of Federal Reserve Bank, Eric Rosengren made a case for a strict monetary policymaking a switch from low-interest rates, he said this is the best time to begin the process of moving towards standard rates with the presence of five percent unemployment, inflation, and weak growth. In the next two years, he collaborated with his contemporaries to form a … [Read more...]
As Fannie, Freddie start a second decade deferred, mortgage rates move up again
For the second week, there is an increase in the mortgage rates sustained by a selloff in the bond market, as housing is daunted with uncompleted work in the mortgage market. According to the weekly survey of Freddie Mac, the 30-year fixed rate mortgage averaged 4.54% in the Sept. 5 week by two basis points. The average of the 15-year fixed rate mortgage is 3.99%, an … [Read more...]
Bank of Canada Keeps Benchmark Rate Unchanged
The interest rate was maintained at 1.5% by the Central Bank, an indication that the NAFTA talks could influence the pace of increases in the future. On Wednesday, the Bank of Canada kept its standard interest rate stable at 1.5% as there is a possibility that the North American Free Trade Agreement could have a significant impact on the increases of future rates. In a short … [Read more...]
Turkey’s Lira: words not sufficient to Raise Interest Rates
The Turkish lira may become viable after the central bank gave signs higher interest rates were underway, but some investors are concerned that any effective relief will require an extreme hike that it is sure to deliver. Further, it is on record that even after 700 basis points of monetary pull back since December; consumer-price growth has increased for five months, … [Read more...]
“The time for rates hike not right,” Bullard to Federal Reserve Bank.
The Federal Reserve Bank of St. Louis President James Bullard admonished management members to halt raising rates again, however, Bullard appeared resolved that a move higher this month is pretty much a done deal. The bank president while speaking in an interview on Fox Business Network on Tuesday complimented the economy saying: “we’ve got a pretty good policy right now and … [Read more...]
Rising ECB Rates? No problem for EU Finance Ministers!
Europe’s finance ministers need not lose a sleep over the fact that European Central Bank’s exit after years of loose monetary strategy will provoke financial upheavals, an upcoming study says. According to Daniel Gros the director of the Brussels-based Center for European Policy Studies, on his opinion to be presented at a meeting with central bankers and finance chiefs in … [Read more...]
Argentina hoists Rates, Seeks IMF Aid to Save Peso.
Just as Argentina faces her current currency crisis, this situation worsens on Thursday as an attempt to increase in the interest rate to 60 percent failed to stop shifty investors from repatriating their money from the country. Just in, the Peso continues to record more landslides following the IMF increase in its benchmark rates by 15 percentage points to a global … [Read more...]
Current Hike in Mortgage Rates
The rates for home loans have incredibly gone higher as investors halt interest in safe-haven assets, more so the present decline in the housing market may negate credit facilities to potential housing customers. A weekly survey by Freddie Mac, evaluates a 30-year fixed-rate mortgage averaged at 4.52% in the Aug. 30 week, after reaching its lowest point since mid-April. More … [Read more...]
Weekly Mortgage Applications Decline, Although Rates Drop
According to the report released by the Mortgage Bankers Association, the entire mortgage application volume reduced by 1.7 percent last week but the volume’s value was 15 percent lower in the previous year. A reduction in the mortgage rates should have bolstered the mortgage business, but the reverse is the case in this scenario. In this summer, dwindling affordability is a … [Read more...]
Canada’s Hot Economy Tests Canadian Banker Poloz’s Patience With Canadian Rates
With the pushing of protectionism from President Trump, the biggest obstacle to the economic expansion of Canada is within its borders. Local news emanating from Canada confirmed that the economy of Canada is closer to overheating than stumbling on the back of trade uncertainty, a situation that has compelled the Bank of Canada to introduce higher interest rates. There is an … [Read more...]