The 30-year fixed-rate mortgage averaged 6.60% in the week ending March 16, down from 6.73% the week before, according to data from Freddie Mac released Thursday. A year ago, the 30-year fixed-rate was 4.16%. After hitting a 2022 high of 7.08% in November, rates had been trending down. However, they started climbing again in February, rising half a percentage point over the past month.
“However, at the end of the week, the failure and resulting bailout of Silicon Valley Bank led to heightened investor concern of additional bank closures, which pushed activity towards Treasury bonds, resulting in dropping yields on the 10-year Treasury and a decrease in mortgage rates,” she said. This past week, economic data on February’s joblessness and inflation levels both pointed to an economy that is still hot, though slowly cooling.
Indian lives matter! Vietnam Lives Matter! Korean life matters! Japanese life matters! Afghanistan Lives Matter! Iraqi lives matter! Libyan lives matter!....
People tried to buy my home, answer was hell no. Pay more interest and higher price for another home.
Biden: the rich need to pay their fair share. Also Biden: bails out the rich’s bank
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European Central Bank faces 'unenviable choice' on interest rates due to banking woes | CNN BusinessUntil yesterday, the European Central Bank was widely expected to hike interest rates by half a percentage point Thursday in its fight against inflation. But the market turmoil of the past 24 hours could force a rethink.
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SVB collapse was driven by 'the first Twitter fueled bank run' | CNN BusinessThe massive amount of customer withdrawals that led to the collapse of Silicon Valley Bank had all the hallmarks of an old-fashioned bank run, but with a new twist befitting the primary industry the bank served: much of it unfolded online. This is disgusting. The bank FAILED, don’t blame Twitter These boners are never gonna blame themselves
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Eggs are finally getting cheaper in the grocery store | CNN BusinessIn February, egg prices fell 6.7% compared to January, according to seasonally adjusted data from the Bureau of Labor Statistics. No thanks to biden. I will do everything in my power to make eggs more expensive so I can make more puns calling them eggspensive Eggs are higher. One of the many democratic lies. Democratic are lying directly and unashamedly to your face. “You know they are lying, they know they are lying, they know you know they are lying, you know they know you know they are lying, but they are still lying.”
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