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Mortgage rates in the US have been rising for the seventh consecutive week, causing concerns in the housing market. The Czech central banker is considering an interest-rate cut, but inflation risks are causing hesitation. Forecasters predict that the euro-region economy may have stalled or contracted in the third quarter due to successive interest-rate hikes. Irish house price inflation has slowed due to high interest rates, a trend seen in other parts of Europe. Many mortgage companies are struggling during the housing downturn, resulting in layoffs, mergers, and exits from the business. Homebuyers in the US are being pushed to the sidelines as mortgage rates surge towards 8%, causing a decline in home purchase activity. Existing home sales are at a 13-year low, and mortgage payments have become less affordable for homebuyers. High yield spreads in the Eurozone suggest a hard landing is imminent. The 30-year fixed mortgage rate in the US has officially reached 8%. European bond bulls are counting on slowing inflation to support their view of an upcoming downturn. The ECB has paused interest-rate hikes, giving Italy some breathing room. Surging US mortgage rates have halted the rally in homebuilder stocks. Nobel Laureate Paul Romer argues for interest-rate cuts in the US after an accelerated economy and slowing inflation. The US consumer seems unaffected by the rise in mortgage rates due to excess savings. The ECB has announced a halt to interest-rate increases. The US Federal Reserve is likely to pause again with rates at a 22-year high.
US Fed likely to pause again with rates at 22-year high https://t.co/TlSS3VMpgD
The ECB is done with interest-rate increases for the time being, Governing Council member Boris Vujcic said https://t.co/5wwiZkzFK0
The ECB is done with interest-rate increases for the time being, Governing Council member Boris Vujcic said https://t.co/fXrwFEOlIG
The US consumer has been impervious to a huge Fed hiking cycle and a massive rise in mortgage rates. Maybe the reason is that there's still plenty of "excess" saving sloshing around. It certainly doesn't look like excess saving is anywhere near being run down... https://t.co/r5syI64KCp
Nobel Laureate Paul Romer argued the Federal Reserve should start to cut interest rates after the US economy accelerated last quarter and inflation continues to slow. https://t.co/NoHblaR8VF
Surging US mortgage rates halt rally in homebuilder stocks https://t.co/52TZhAUTMU
European bond bulls are counting on slowing inflation to reinforce their view that a downturn is on the way https://t.co/DKf9R4nxvT
European bond bulls are counting on slowing inflation to reinforce their view that a downturn is on the way https://t.co/saMZgIIMTq
European bond bulls are counting on slowing inflation to reinforce their view that a downturn is on the way https://t.co/DAIWLE2EnA
The ECB's first pause in interest-rate hikes since June 2022 gives Italy some breathing room https://t.co/o0VtrZ7xXg
The median U.S. first-lien mortgage holder in September had a 3.5% rate, according to one data firm. https://t.co/yHWm3aFhPf
The 30-year fixed mortgage rate in the US hit 8% officially this month, per CNBC. Will it go higher?
High yield spreads, particularly in the Eurozone, suggest a hard landing is coming https://t.co/dsV9fO9kwh
Mortgage payments have become significantly less affordable for homebuyers, according to the Consumer Financial Protection Bureau. https://t.co/3GllybcgZK
Home purchase activity is at a “virtual standstill” as interest rates continue to grow https://t.co/5kwBG8gzZl https://t.co/5kwBG8gzZl
Existing home sales are at a 13-year low as the highest mortgage rates in decades are locking new buyers out & keeping homeowners from moving: https://t.co/vnGwLwJIVO
Homebuyers are getting pushed to the sidelines as US mortgage rates surge toward 8% https://t.co/N3nUfH1hnw
Homebuyers are getting pushed to the sidelines as US mortgage rates surge toward 8% https://t.co/7SzNLziADi
Many mortgage companies are growing desperate during a housing downturn, laying off workers, merging with other lenders or exiting the business https://t.co/eKAW7dDwBa
Irish house price inflation slowed as high interest rates deter buyers, a trend also seen elsewhere in Europe https://t.co/5HBOT0uPSl
The euro-region economy stalled or even contracted in the third quarter under the weight of successive interest-rate hikes, according to forecasters -- we'll find out if they are right next week when official figures are released https://t.co/AQ9b2amqOf
Czech central banker Jan Kubicek says may consider an interest-rate cut next week, although lingering inflation risks still give him pause https://t.co/0jxpHNyc5Y
Mortgage rates in the US rose for the seventh week in a row, per Fannie Mae.