Used vehicles make up 5% of the basket of goods used to track US inflation © Matthew Hatcher/Bloomberg Later this month, Berman Auto Group will host what has become a rare occurrence at a car dealership in the past two years: a sales event. The company in April bought about 150 vehicles when it opened … Read more
Federal Reserve Governor Christopher Waller said “we’ve still got a ways to go” before the US central bank stops raising interest rates, despite good news last week on consumer prices. At the same time, policymakers can start considering whether to downshift their speed after four straight hikes of 75 basis points, and the Fed is … Read more
Breadcrumb Trail Links PMN Business Author of the article: Article content A look at the day ahead in Asian markets from Lewis Krauskopf The inflation datapoint investors have been itching for finally arrived and set off a feverish risk-on rally in markets. But such joy has been deflated throughout 2022 and there are reasons to … Read more
Breadcrumb Trail Links PMN Economy PMN Business Author of the article: Reuters Devik Jain and Ankika Biswas Article content The tech-heavy Nasdaq surged 5% on Thursday as data showed U.S. consumer prices increased less than expected in October, spurring hopes that the Federal Reserve might scale down the size of its future interest rate hikes. … Read more
Leopatrizi | E+ | Getty Images Becoming a homeowner can be challenging enough under good circumstances. Add in higher mortgage rates, elevated home prices and unrelenting high inflation — i.e., the current home-buying environment — and it may feel decidedly unattainable. The average rate on a 30-year fixed-rate mortgage has been trending above 7% for … Read more
Jobs market may be cooling but workers still have leverage – CBS News Watch CBS News A red-hot jobs market may be losing its sizzle as the holidays approach. Nancy Chen has a look at how the current labor market is affecting the holiday season. Be the first to know Get browser notifications for breaking … Read more
Burbank — Inflation, soaring mortgage rates and record high prices are making it difficult for many Americans to buy a home. But there could be some relief in sight, as skyrocketing rates have helped cool some of the nation’s hottest housing markets. According to Freddie Mac, the average rate on a 30-year fixed-rate mortgage now sits … Read more
Demand for new-build housing is cooling fast with economic turmoil and higher borrowing costs putting the brakes on the property market, the UK’s largest housebuilder has said. Barratt Developments said in a trading update on Wednesday that buyers were reserving an average of 188 homes per week, compared with 281 in the past financial year. … Read more
Image Credit: Adobe If you purchase an independently reviewed product or service through a link on our website, we may receive an affiliate commission. MoreAmazon Prime Day It’s the most wonderful day of the year – Prime Day, that is! Amazon is slashing prices left and right and we can’t help but fill our virtual … Read more
Minneapolis CNN Business — The fever hasn’t broken yet for America’s employment market, but the temperature is coming down. The economy added 263,000 jobs in September, the Bureau of Labor Statistics reported Friday, slightly more than economists had estimated. While still robust, the headline number marks the second consecutive month of falling totals. That, coupled with job openings showing some … Read more