Although they are rising, mortgage rates remain below 3%. But a rise in house prices threatens to make buying a home unreachable for many Americans. The 30-year fixed-rate mortgage averaged 2.99% for the week ending August 20, and increased three basis points the week before, Freddie Mac FMCC, -0.67% reported …
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Federal Reserve staff told central bank officials in late July that they would lower their estimate for economic growth in the second half of the year, according to minutes released by the Federal Open Market Committee on Wednesday. Fed staff always present their own forecasts at the Central Bank’s eight …
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Gold prices plunged sharply on Wednesday, ending a two-day string of gains as the U.S. dollar stopped its skid and as commodity investors watched minutes from the Federal Reserve’s July policy meeting, which could provide further insight into the central banker’s perspective for US and global business. Market participants will …
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The cost to U.S. and European companies to relocate production from China could reach $ 1 trillion over five years, according to new research from Bank of America. The survey of the bank’s global analysts found that companies in more than 80% of the global sectors experienced supply chain disruptions …
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Americans with 401 (k) plans may think they have saved a lot for retirement, but a new government rule will show them exactly how much money they will see in their old age. The Department of Labor has published its interim final rule whereby managers have plans for defined contributions, …
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