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Average long-term US mortgage rate slips to 6.27%, nearing a low for 2025

The average rate on a 30-year U.S. mortgage declined again this week, easing to just above its lowest level this year. The average long-term mortgage rate slipped to 6.27% from 6.3% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the rate averaged ...
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Exclusive-Fed’s Miran says he is not focused on asset price boom in push for lower rates

By Jamie McGeever WASHINGTON (Reuters) -Federal Reserve Governor Stephen Miran on Thursday said he was not concerned that easing monetary policy risks further inflating historically — and in some cases record-high — asset prices.  “When I think about the financial condition that matters most in terms ...
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US homebuilder sentiment vaults to 6-month high in October

WASHINGTON (Reuters) -U.S. homebuilder sentiment jumped to a six-month high in October amid hopes that declining mortgage rates would stimulate demand for housing and help reduce an inventory overhang that has hampered new housing construction. The National Association of Home Builders/Wells Fargo Housing Market index ...
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Brazil’s economic activity rises less than expected in August

BRASILIA (Reuters) -Brazil’s economic activity increased less than expected in August, central bank data showed on Thursday, as a growing chorus of economists anticipate a sharper slowdown ahead amid tight monetary policy. The IBC-BR index, seen as a proxy for the gross domestic product (GDP) ...
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Fed’s Barkin: Consumers are spending, but not as flush as in pandemic years

WASHINGTON (Reuters) -Consumers continue to spend given low unemployment and wage gains, but are more constrained than during the pandemic years, Richmond Fed president Thomas Barkin said on Thursday. “While consumers are still spending, we are not in 2022 anymore. Consumers are not as flush,” ...
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IAM files unfair labor practice charge against Boeing

(Reuters) -The International Association of Machinists and Aerospace Workers said on Thursday it has filed an unfair labor practice charge against Boeing with the National Labor Relations Board. The union represents over 3,200 striking workers who assemble fighter jets and munitions at Boeing’s plants in ...
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Microsoft launches new AI upgrades to Windows 11, boosting Copilot

(Reuters) -Microsoft on Thursday rolled out a series of artificial intelligence upgrades to Windows 11 that would make its Copilot AI assistant more appealing to users by making it easier to automate tasks and connect with services across devices. Users can now use the wake ...
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Fed’s Waller favors 25-basis-point rate cut in October amid job market worries

By Michael S. Derby NEW YORK (Reuters) -Federal Reserve Governor Christopher Waller said on Thursday he’s on board with another interest rate cut at the U.S. central bank’s policy meeting later this month because of the mixed readings on the state of the job market. “Based ...
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Toolmaker Snap-On tops quarterly estimates as repair demand revs up

(Reuters) -Snap-On beat third-quarter revenue and profit estimates on Thursday as recovering demand from auto parts companies and repair shops boosted sales for the company’s tool-making products. The automotive aftermarket, the company’s major source of revenue, continues to see a rebound in demand, as U.S. ...
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Fed’s Miran: Growth next year could hinge on how U.S.-China tensions are resolved – Fox Business

WASHINGTON (Reuters) -U.S. Federal Reserve Governor Stephen Miran said economic growth for the coming year could turn on whether the escalating risks around U.S.-China trade are realized or defused. “We will have to see how the next few weeks play out,” Miran said on Fox ...
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FX reserve managers react to, not drive dollar moves, StanChart says

By Yoruk Bahceli LONDON (Reuters) -Reserve managers tend to buy the dollar when it weakens and sell when it rises, suggesting they might play a lesser role in driving the greenback than private investors, Standard Chartered said in a note on Thursday. Demand from central banks ...
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IKEA sales fall for second year in aggressive price-cutting push

By Greta Rosen Fondahn and Helen Reid STOCKHOLM/LONDON (Reuters) -IKEA’s annual sales fell for a second consecutive year, it reported on Thursday, as the budget furniture retailer stuck to a strategy of cutting prices to attract cash-strapped consumers and gain market share in a fiercely ...
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