November 16, 20240 Comments

Mortgage rates rise despite interest rate cut

Getty Images Mortgage costs are rising – with the average rate on a two-year fixed deal now at 5.5% – despite a recent cut in interest rates. A string of lenders, including Barclays, HSBC, NatWest and Nationwide, have increased the rates charged on new fixed deals in recent days. That has created a headache for borrowers hoping costs were on a consistent downward trend, especially in light of the Bank

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November 12, 20240 Comments

Ex-Cleveland Fed President Mester sees fewer rate cuts after Trump win

Federal Reserve chair Jerome Powell speaks during a news conference on Sept.18, 2024 in Washington, DC. Anna Moneymaker | Getty The U.S. Federal Reserve could carry out fewer interest rate cuts than previously expected next year should President-elect Donald Trump’s proposed global tariffs take hold, former Fed policymaker Loretta Mester said Tuesday. Mester indicated that the Fed’s outlook was set to change under the incoming Republican administration’s fiscal plans, and

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November 11, 20240 Comments

Investing for 6% income in a declining interest rate world

Breadcrumb Trail Links Investor A top-rate GIC today pays 4.05% for one year locked in, 3.8% for two years locked in and 3.55% for three years locked in Published Nov 11, 2024  •  Last updated 1 hour ago  •  5 minute read You can save this article by registering for free here. Or sign-in if you have an account. Interest rates rates in the range of 3.55 per cent to 4.05

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November 11, 20240 Comments

Russia’s central bank raises key rate to 21% to rein in higher-than-forecast inflation

09 June 2024, Russia, Moskau: A guardhouse of the Kremlin (l) and the Foreign Ministry (M, background) stand in the center of the capital. Photo: Ulf Mauder/dpa (Photo by Ulf Mauder/picture alliance via Getty Images) Picture Alliance | Picture Alliance | Getty Images Russia’s central bank on Friday raised its key interest rate by 200 basis points to 21%, citing consumer price increases considerably above its forecast and warning of ongoing high

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November 9, 20240 Comments

Will UK interest rate cut make mortgages and loans cheaper?

Mortgage rates Just under a third of households have a mortgage, according to the government’s English Housing Survey, external. About 600,000 homeowners have a mortgage that “tracks” the Bank of England’s rate, so a base rate cut immediately leads to lower monthly repayments. But more than eight in 10 mortgage customers have fixed-rate deals. While their monthly payments aren’t immediately affected, future deals are. Mortgage rates are still much higher

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November 9, 20240 Comments

Jobless rate ticks higher in October for white Americans, bucking the broader trend

A jobseeker holds flyers during the New York Public Library’s annual Bronx Job Fair & Expo at the the Bronx Library Center in the Bronx borough of New York, US, on Friday, Sept. 6, 2024.  Yuki Iwamura | Bloomberg | Getty Images The unemployment rate for white Americans inched higher in October, according to data released Friday by the Department of Labor. In October, white Americans saw their jobless rate

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November 8, 20240 Comments

US stock futures edge higher; markets digest Fed rate cut, Trump 2.0 By Investing.com

Investing.com– U.S. stock index futures edged marginally higher Friday, remaining near record highs  as markets digested the Federal Reserve’s outlook on future rate cuts. At 9:34 ET (2:34 GMT), rose 0.1%, gained 0.2%, and fell 0.2%. The Wall Street indices received a hefty boost earlier this week after Donald Trump won the 2024 presidential election earlier this week, opening the door for more potentially expansionary policies in the coming years.  The

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November 8, 20240 Comments

Canada’s unemployment rate holds steady at 6.5%

Article content Canada’s unemployment rate remained unchanged for the month of October at 6.5 per cent, with the economy adding 15,000 jobs, Statistics Canada said on Friday. The job gains were about half the consensus expectation of 27,000 new positions. Unemployment was up 0.8 per cent compared to the same time last year, with 193,000 more people looking for jobs or on temporary layoff. Article content The participation rate declined

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November 8, 20240 Comments

GTA home sales surge 44% in October as rate cuts draw buyers back

Article content The number of homes sold in the Greater Toronto Area (GTA) rose substantially in October, leading industry analysts to suggest that the Bank of Canada‘s interest rate cuts had improved affordability and encouraged buyers to re-enter the market. The Toronto Regional Real Estate Board (TRREB) reported 6,658 homes were sold through its MLS system last month, a 44.4 per cent increase from October 2023. “It’s a really nice

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