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The Marked Chart Wire · Economy and the Fed
Mortgage Rates
Freddie Mac data shows the average cost for a thirty-year home loan dropped to 7.24 percent. This marks the second straight weekly decrease, aided by lower Treasury yields, though costs remain high compared to last year.
Part of a series: Mortgage rates climb then ease as demand cools
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Inflation
The Dallas Federal Reserve's trimmed mean PCE price index rose 2.8 percent annualized in September, up from 2.0 percent in August.
Fed
The president stated that the Federal Reserve is reluctant to reduce interest rates.
Fed
Larry Hassett stated that the Federal Reserve will likely respond if October inflation data comes in significantly higher than expected.
ECB
The European Central Bank kept its deposit facility rate unchanged at 2.5 percent in October, matching market expectations and the previous level.
HotGDP
GDP expanded at a 3.4 percent annualized rate, beating the 3.2 percent estimate. Annual PCE inflation reached 3.6 percent in September, matching expectations but remaining above the Federal Reserve's 2 percent goal.
Economy
Initial jobless claims for the week ended October 24 stood at 194,000, matching the previous week's figure and coming in below the 198,000 forecast.
Fast headlines, summarized. Not verified and not advice. Check the full story before you act.