Thomas Louis and his wife have tried everything to clinch a deal to buy a home: offering above the asking price, waiving inspections, and considering properties that tick some, but not all, of their boxes. Three years and 15 offers later, they’re still looking. This year’s sharp rise in mortgage rates, which are now approaching…
The Federal Reserve raised interest rates for the first time since 2023 on Wednesday, reversing course as the Iran war drives up global energy prices and fuels inflation. The Fed raised the federal funds rate by 0.25 percentage points, bringing its target range to between 3.75% and 4% — its highest level since December 2025. The…
Borrowing is likely to get more expensive for Americans, and soon, according to economists. The Federal Reserve is expected to raise its benchmark interest rate on Wednesday for the first time in more than three years as the central bank battles stubborn inflation fueled by high energy prices. Some Wall Street forecasters also pencil in…
The U.S. economy has remained resilient over the past two years despite a slowing labor market, trade wars and resurgent inflation, but economists are now warning that a convergence of new and lingering threats could test its strength. The “worry list is growing more worrisome,” Ed Yardeni, president and chief investment strategist of Yardeni Research,…
A hotter-than-expected inflation report has sharply raised the likelihood that the Federal Reserve will increase interest rates in September, which would mark its first rate hike since 2023. The Consumer Price Index rose at an annual rate of 3.4% in August, in line with July’s reading but higher than the 3.3% economists were forecasting. One-third…
A key inflation reading tomorrow could determine whether the Federal Reserve issues its first interest rate hike in more than three years. The August Consumer Price Index report, scheduled for release at 8:30 a.m. ET on Friday, is the last major inflation snapshot Fed officials will receive before announcing their next interest rate decision on…
President Trump’s vow to send $5,000 to every U.S. adult if the Republican Party keeps control of Congress in the midterm elections would drive up the federal deficit, reignite inflation and alarm investors, according to economists. After Mr. Trump raised the idea of such a dividend on Wednesday night at the Republican National Committee’s midterm…
U.S. Treasury Secretary Scott Bessent said on Wednesday that the agency will buy up to $6 billion in long-term government bonds as part of an effort to curb rising yields and ease borrowing costs. The Treasury Department vowed last month to “at least” double its bond buybacks to $4 billion to prop up prices (bond yields. Higher…
Mortgage rates have confounded house hunters this year by steadily ticking higher. That trend is likely to continue, according to economists, with some predicting rates will climb back above 7%. “We’re effectively there,” Mark Zandi, chief economist at Moody’s Analytics, told CBS News. “And rates could easily go over.” The average rate for a 30-year…
Treasury yields edged higher on Tuesday, extending a global bond sell-off and threatening to raise borrowing costs for millions of Americans. The yield on the 10-year Treasury, which influences mortgage rates, rose to 4.78%, up from 4.75% late Monday and the highest level since January 2025. The yield on the 2-year Treasury, which closely tracks…
