Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing the 30-year fixed-rate mortgage (FRM) averaged 6.99 percent.
“Mortgage rates retreated this week given incoming data showing slower growth,” said Sam Khater, Freddie Mac’s Chief Economist. “Rates are just shy of seven percent, and we expect them to modestly decline over the remainder of 2024. If a potential buyer is looking to buy a home this year,... (continue reading...)
By Patturaja Murugaboopathy
(Reuters) - U.S. high-yield bond funds enjoyed the biggest inflows of the year in May, driven by the allure of higher yields, potential for price appreciation amid anticipated Federal Reserve rate cuts, and diminishing corporate credit risks.
According to LSEG Lipper data, U.S. high-yield bond funds attracted $5 billion in inflows in May, the highest since December. From January to May this year, the total... (continue reading...)
Investing.com -- U.S. stock futures traded in tight ranges Thursday following the release of weekly initial jobless claims data, ahead of Friday’s key nonfarm payrolls report. Today's data hinted at more softening in the labor market.
Here are some of the biggest U.S. stock movers today:
Nvidia (NASDAQ: NVDA) stock fell 1.7%, paring gains after the artificial intelligence chip designer’s market cap topped $3 trillion during the... (continue reading...)
By P.J. Huffstutter and Leah Douglas
(Reuters) - The ongoing U.S. outbreak of avian flu in dairy cattle reached Minnesota on Thursday as the state announced its first infected herd.
More than 80 dairy herds have been infected with the virus across 11 states since late March, and three dairy workers have tested positive for the virus.
The Minnesota Board of Animal Health said the farmer of the affected herd reported more... (continue reading...)
SHANGHAI (Reuters) - China's securities watchdog does not expect a near-term spike in delistings, it said on Thursday, after investors dumped shares in small-cap companies on fears they could be kicked off the market as Beijing weeds out weaker firms. The "survival of the fittest" mechanism is gradually taking shape but in the short term, there will not be an "evident increase" in the number of delisted companies, the China Securities Regulatory Commission... (continue reading...)
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