U․S․ Mortgage rates surged to a 21-year high
U.S. mortgage rates surged this week, with the popular 30-year fixed rate hitting the highest level in more than 21 years, further complicating the housing market outlook.
U․S. unemployment rate unexpectedly rose to 3.8%
Nonfarm payrolls grew by a seasonally adjusted 187,000 for the month, above the Dow Jones estimate for 170,000, the U.S. Bureau of Labor Statistics reported Friday.
However, the unemployment rate was 3.8%, up significantly from July and the highest since February 2022.
U.S. Bureau of Labor Statistics also reported that wage gains moderated, suggesting that labor market conditions were easing and cementing expectations that the Federal Reserve will not raise interest rates this month.
Wall Street ends lower after Fed minutes cloud outlook for rates
Wall Street ended lower on Wednesday after the Federal Reserve's minutes showed central bank officials were divided over the need for more interest rate hikes at their last meeting.
U.S. Federal Reserve leaves interest rates unchanged
The Federal Reserve held interest rates steady at a 22-year high at 5.25%-5.5%.
This page was last updated 25.09.2023 13:31
