Mortgage rates shoot up to their highest level in nearly 8 years

The 30-year fixed-rate average increased to 4.94 percent. (J. Lawler Duggan for The Washington Post) Kathy Orton Reporter and editor covering the Washington metropolitan area housing market November 8 at 10:06 AM Strong employment numbers caused mortgage rates to take off with the 30-year fixed-rate average the highest it has been in nearly eight years.…

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Rates Are Rising, But Banks Aren’t Worried About Consumers

The good times keep rolling for the biggest U.S. banks, with consumers easily absorbing higher borrowing costs and the economy shrugging off trade spats, political strife and market swoons. JPMorgan Chase & Co., Citigroup Inc. and Wells Fargo & Co. posted double-digit profit increases in the third-quarter, largely because of a pickup in income from…

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Interest Rates Need To Tell The Truth

By Richard M. Ebeling In the middle of July 2018, President Donald Trump said in an interview that he was “not happy” with the Federal Reserve nudging up interest rates and threatening economic growth in the United States. At the recent Jackson Hole, Wyoming, meeting of global central bank leaders, the Federal Reserve chair, Jerome…

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