U.S. consumer prices unexpectedly rose in August and underlying inflation accelerated amid rising costs for rents and healthcare, giving the Federal Reserve ammunition to deliver a third 75 basis points interest rate hike next Wednesday.
Fears of an impending recession once again escalated Friday after Federal Reserve Chair Jerome Powell warned economic growth will suffer as the central bank works to ease decades-high inflation
Higher interest rates and very high home prices dragged down demand for mortgages for the third straight week, data from the Mortgage Bankers Association indicated Wednesday.
Americans’ short-term inflation expectations continue to rise, according to June survey results released on Monday by the Federal Reserve Bank of New York.
Mortgage rates have reached their highest levels in nearly 15 years, a factor that's contributing to a continued cooling of a housing market that's been white-hot for over two years.
While home prices in the United States have appreciated by more than a third over the past two years, prices are poised to fall in several housing markets over the next 12 months, according to data analyzed by research firm CoreLogic.