Mortgage Rates Spike Amid Decline in Home Purchases

US: Mortgage Rates Spike Amid Decline in Home Purchases

US 30-year, fixed-rate mortgage rates climbed 0.14% this week, ahead of Friday's inflation data release.

"Investors have their eyes on the Consumer Price Index, expecting to see continued gains but at a moderating pace," Freddie Mac's chief economist told CNN, adding the data will be an important indicator for the Federal Reserve at its meeting next week. 

The US housing market continues to sink, as record-high home prices and higher mortgage rates led to a drop in mortgage applications - now at their lowest level in 22 years.




In Other News

More than 10 killed in Stakhanov following shelling - LPR Head Pasechnik.

According to a member of the representative office of the LPR JCCC, Alexei Getmanskiy, the attack was launched from the Ukrainian side at 5 a.m. with Uragan multiple rocket launcher.

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