WASHINGTON — The Federal Reserve is raising its key interest rate for the fourth time this year to reflect the U.S. economy’s continued strength but signaling that it expects to slow hikes next year. The quarter-point hike, to a range of 2.25 percent to 2.5 percent, lifts the Fed’s benchmark rate to its highest point … Continue reading WASHINGTON | Fed lifts rates for 4th time this year but sees fewer hikes
WASHINGTON — Spending on U.S. construction projections fell 0.1% in October, the third consecutive monthly decline, as weakness in home building and non-residential construction offset a rebound in government projects. The October decline matched a similar 0.1% drop in September and followed a 0.4% fall in August, the Commerce Department reported Monday. Construction has been … Continue reading WASHINGTON | US construction spending down 0.1% in October
BANGKOK — Share prices were mixed Friday in Asia ahead of the planned meeting by Presidents Donald Trump and Xi Jinping at the Group of 20 summit this weekend. KEEPING SCORE: Japan’s Nikkei 225 index climbed 0.4 percent to 22,348.56 and the Hang Seng in Hong Kong added 0.7 percent to 26,633.88. The Shanghai composite … Continue reading BANGKOK | Asia shares mixed ahead of Trump-Xi meeting at G-20 summit
WASHINGTON — U.S. home construction improved a slight 1.5 percent in October, but in a troubling sign, ground breakings for single-family houses fell. The Commerce Department said Tuesday housing starts rose to a seasonally adjusted annual rate of 1.23 million, up from 1.21 million in September. The gains came entirely from apartments. Starts for single-family … Continue reading WASHINGTON | US home construction rose 1.5 percent in October
WASHINGTON — U.S. long-term mortgage rates were steady to slightly up this week, at their highest levels in nearly eight years and dampening home sales. Mortgage buyer Freddie Mac said Thursday the average rate on a 30-year, fixed-rate mortgage was unchanged from last week at 4.94 percent. That’s the highest level for the benchmark rate … Continue reading WASHINGTON | US average mortgage rates flat to higher; 30-year 4.94 pct.
WASHINGTON — The Federal Reserve has left its key policy rate unchanged but signaled that it plans to keep responding to the strong U.S. economy with more interest rate hikes. The next rate hike is expected in December. The Fed kept its benchmark rate in a range of 2 percent to 2.25 percent. A statement … Continue reading WASHINGTON | Fed leaves key rate unchanged but sees further hikes ahead
NEW YORK — Stocks in the U.S. are taking small losses at midday Thursday after a big rally the day before. Technology and internet companies are slipping after chipmaker Qualcomm gave a disappointing revenue forecast for the current quarter. Health care companies are broadly higher after a big gain a day ago following the U.S. … Continue reading NEW YORK | US stocks edge mostly lower after a big post-election surge
WASHINGTON— Long-term U.S. mortgage rates dipped slightly this week, taking a pause after weeks of steady increases stoked by rising interest rates. Home borrowing rates remain at their highest levels in more than seven years, with the key 30-year rate approaching 5 percent. Mortgage buyer Freddie Mac says the rate on 30-year, fixed-rate mortgages declined … Continue reading WASHINGTON | US mortgage rates fall slightly; 30-year at 4.85 percent