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June 26 – As another lackluster spring sales season draws to a close, U.S. mortgage rates have risen slightly. Freddie Mac said in a statement Thursday that the average rate for a 30-year fixed-rate mortgage rose to 6.49% from 6.47% a week earlier. A year ago, the rate was 6.77%. High borrowing costs have been weighing on the housing market; previously, Middle East conflict pushed up energy prices and inflation, leading to higher borrowing costs. This situation, occurring during the peak sales season, has exacerbated anxiety for both buyers and sellers. According to Redfin data, in the week ending June 21, the number of new listings fell 1.7% from the previous week, reaching its lowest level since February. Zillow senior economist Kara Ng said, “Rate rates around 6.5% are still better than a year ago, which continues to provide some support for homebuyers. But this is not enough to make a major breakthrough in improving home affordability.” Zillow expects rates to remain between 6.4% and 6.5% throughout the summer, before gradually falling back to around 6.2% by the end of the year.The United States and Gulf states reiterated that no one will be forced to leave Gaza, and those who wish to leave will be free to return.The United States and the Gulf states: Negotiations are not contingent on the outcome of other conflicts.Google (GOOG.O): Today, we also launched the all-new Google Finance app for Android. Starting this week, we will be rolling out the "Portfolio" feature globally in the new Google Finance. An iOS version will follow later this year.An Iranian source close to the negotiating team said that Israels withdrawal from Lebanon is a condition for Iran to reach a final agreement with the United States, and is also Irans "red line".

USD/CHF reaches 0.9500 as China's anti-lockdown demonstrations prompt a risk-off posture

Alina Haynes

Nov 28, 2022 14:54

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After dropping close to a crucial support level at 0.9440 during the early Asian session, the USD/CHF pair struggled to rebound. Increasing individual protests against anti-Covid locking initiatives have produced a trend of risk aversion on the global market, which appears to be bolstering the attempted recovery.

 

The asset is trading near 0.9480 at the time of writing and is expected to remain under the influence of bulls as the US Dollar index (DXY) exhibits strength. The USD Index is approaching 106.23 and attempting to surpass 106.42, a two-day high. The heightened likelihood of a catastrophic economic slump as a result of China's households' road protests against Covid-19 limitations has raised the appeal of safe-haven investments.

 

10-year US Treasury yields remain below 3.70 percent as the Federal Reserve (Fed) seeks to suspend the larger culture of rate hikes in order to reduce market risks and evaluate the progress made by Fed policymakers to date.

 

The earliest estimates of the United States' Gross Domestic Product (GDP) will be crucial for future forecasting. The economic data for the third quarter is predicted to remain unchanged at 2.6%. This may keep the dollar in control, but it will not assist Federal Reserve Chair Jerome Powell in achieving price stability. Despite tough policy measures, persistent growth rates indicate sustained retail demand, which prevents inflation from declining as predicted.

 

Regarding the Swiss franc, investors look forward to Tuesday's GDP report. It is projected that quarterly economic data would remain constant at 0.3%. While annual growth rates are expected to decline from the previously predicted 2.8% to 1.0%,

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