The average rate on 30-year mortgages — the most popular kind among Americans — rose to the highest level since 2002, tracking the Federal Reserve’s aggressive campaign of rate increases.
Tag: Banking and Financial Institutions
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European Central Bank Is Set to Raise Interest Rates Again
Policymakers on Thursday are expected to approve a hefty rate increase to corral prices that have risen “far too high.”
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Credit Suisse Unveils Sweeping Revamp to Revive Its Fortunes
The restructuring includes shrinking its investment bank and raising $4 billion in capital from investors, including a state-owned Saudi bank.
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A Rising Dollar Is Hurting Other Currencies. Central Banks are Stepping In.
The Federal Reserve’s interest rate hikes are unsettling global markets and prompting other central banks to prop up their domestic currencies.
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Rishi Sunak, New UK Prime Minister, Delays Economic Plan
Mr. Sunak’s government, seeking more time to make the “right decisions,” will deliver its first economic plan on Nov. 17 instead of Monday.