The housing market has continued to see weakness amid high mortgage rates, affordability, and supply issues. And this week, the Federal Reserve Board cut interest rates for the first time since 2020. What does that mean for mortgage rates? Morgan Stanley US Housing strategist James Egan breaks down how interest rates affect — and don't affect — mortgage rates. More: https://lnkd.in/exCvihwy #yahoofinance #finance #economy #housing #realestate #mortgages #money
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Average 30-year fixed mortgage rates fell again this week to 6.09%, though the move wasn’t directly tied to the Federal Reserve Board’s rate cut on Wednesday. The average rate dropped 0.11 percentage point from a week earlier, according to Freddie Mac data released Thursday, leaving the average at the lowest level since early February 2023. Fifteen-year mortgage rates also fell, to 5.15% from 5.27% a week ago. In recent months, mortgage rates have dropped more than a percentage point in anticipation of the Fed’s move. At its meeting Wednesday, the central bank cut benchmark interest rates by 50 basis points to a range of 4.75% to 5% and indicated it plans to lower rates twice more by the end of the year. Headed into the meeting, traders were divided on how much the Fed would cut, but the central bank’s decision to make a larger reduction wasn’t enough of a surprise to move mortgage rates materially — nor is it likely to drive them much lower from here, said Orphe Divounguy, a senior economist at Zillow. “The markets really expected the current scenario,” Divounguy said. “Mortgage rates moved lower ahead of the Fed meeting. That has improved housing affordability.” More: https://lnkd.in/eqi_Kk7f #yahoofinance #finance #mortage #realty #realestate #realtor #money #economics #housing
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The partnership is set to kick off as a pilot program at some Olive Garden locations in the United States in late 2024 and expand to all 900 outlets across the country by May 2025. https://yhoo.it/3BlNia3
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The Federal Reserve slashed interest rates for the first time since 2020 this week. The consensus among Fed officials at Wednesday's meeting was that they now see two more 25 basis point cuts this year, followed by four more cuts next year and two more cuts in 2026. https://yhoo.it/3MNafpn
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Shares of Microsoft were climbing earlier this week after the tech giant's board approved a $60,000,000,000 share buyback program. The company also agreed to raise the dividend by 10% to $0.83 per share as of November 21. More: https://lnkd.in/eCXcAqwy #yahoofinance #finance #money #stocks #business #investing #markets
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Clayco executive chairman and founder Bob Clark says there's one thing to keep in mind when it comes to AI infrastructure constraints: electricity. More: https://lnkd.in/epHnJcyc #yahoofinance #finance #AI #tech #energy #markets #artificialintelligence
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Stocks initially rallied following the Fed's rate cut announcement before paring those gains. The tech-heavy Nasdaq Composite and the the S&P 500 closed down about 0.3%, while the Dow Jones Industrial Average was off about 0.25%. https://yhoo.it/4defBEC
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This is the economic U-turn we've been waiting for. The Federal Reserve Board announced a massive half-point cut in short-term interest rates on Wednesday. It's been a long time coming. After inflation peaked at 9.1% in June 2022, the Fed worked to tame consumer prices with 11 interest rate hikes over the ensuing months. Then, rates remained unchanged beginning in August 2023. With inflation at 2.5% in August — tantalizingly close to the 2% target — Fed officials felt the time was finally right to steer interest rates lower. What does the rate cut mean for your finances? More: https://lnkd.in/euY-Pny3 #yahoofinance #finance #economics #inflation #money #personalfinance
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The Federal Reserve Board slashed interest rates by a half percentage point Wednesday and charted a course for two additional cuts this year followed by four more in 2025. The action marks the Fed’s first easing of monetary policy since 2020 and the termination of its most aggressive inflation-fighting campaign since the 1980s. The decision came in a split vote at the conclusion of the Fed’s two-day policy meeting as officials cut the central bank’s benchmark rate by 50 basis points to a new range of 4.75%-5.0%. Rates had previously been held at a 23-year high since July 2023. There was some division on the final decision, with Fed governor Michelle Bowman dissenting. She preferred to cut rates by 25 basis points instead of 50. No Fed official has voted against a policy decision in two years, matching one of the longest such streaks in the past half century. Moreover, no Fed governor has dissented on a rate decision since 2005. More: https://lnkd.in/eEGTAad9 #yahoofinance #finance #economy #inflation #markets
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The Federal Reserve slashed interest rates by a half percentage point Wednesday and charted a course for two additional cuts this year followed by four more in 2025. https://yhoo.it/3TAKSuv