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Bloomberg
35 minutes ago
- Bloomberg
US Prepares for Possible Strike on Iran; Powell Gives Tariff Warning
Bloomberg Daybreak Europe is your essential morning viewing to stay ahead. Live from London, we set the agenda for your day, catching you up with overnight markets news from the US and Asia. And we'll tell you what matters for investors in Europe, giving you insight before trading begins. Sources tell Bloomberg that senior US officials are preparing for a possible strike on Iran within the next few days, with signs that the infrastructure needed to join Israel's offensive is being gathered in the region. Meanwhile, the Fed holds US interest rates again with Chair Jerome Powell saying there are lots of unknowns about the outlook for the economy, including the impact of Trump's tariffs. Today's guests: Lale Akoner, eToro, Global Market Analyst. (Source: Bloomberg)
CNET
41 minutes ago
- CNET
Homebuyers See Lower Mortgage Rates: Current Mortgage Rates for June 19, 2025
Check out CNET Money's weekly mortgage rate forecast for a more in-depth look at what's next for Fed rate cuts, labor data and inflation. Average 30-year fixed mortgage rates have remained close to 7% for the last seven months, keeping prospective homebuyers on the sidelines. For a 30-year fixed-rate mortgage, the average rate you'll pay is 6.87% today, down -0.04% from seven days ago. The average rate for a 15-year fixed mortgage is 6.06%, which is a decrease of -0.05% since last week. Lingering inflation, threats of a global trade war and policy turbulence have created an uncertain economic outlook. In response, the Federal Reserve has adopted a wait-and-see approach and kept interest rates steady in 2025, most recently on June 18. If President Trump eases some of his aggressive tariff measures or if the labor market deteriorates, it could prompt the Fed to cut interest rates as soon as September. But prospective homebuyers shouldn't expect mortgage rates to become affordable overnight. While cheaper borrowing costs gradually trickle down to the housing market, the Fed doesn't directly set lenders' mortgage rates. Plus, in today's unaffordable housing market, mortgage rates are just one piece of the puzzle. Prospective buyers still have to contend with high home prices and skyrocketing homeownership expenses. The "="" target="_self">possibility of a job-loss recession is also pushing many households to tighten their budgets and take on less financial risk. When mortgage rates start to fall, be ready to take advantage. Experts recommend shopping around and comparing multiple offers to get the lowest rate. Enter your information here to get a custom quote from one of CNET's partner lenders. About these rates: Bankrate's tool features rates from partner lenders that you can use when comparing multiple mortgage rates. Are mortgage rates considered high right now? Mortgage rates primarily take their cues from the 10-year Treasury yield, which reflects investors' collective expectations regarding inflation, labor market health, upcoming monetary policy shifts and the impact of global factors like tariffs. If investors anticipate persistently high inflation or significant government borrowing, they'll demand higher returns on their bonds, which in turn keeps mortgage rates elevated. "Rates could fall if inflation keeps cooling and the labor market softens," said Jeb Smith, licensed real estate agent and member of CNET Money's expert review board. "On the other hand, tariffs could create new inflation pressure. Add in government deficits and increased bond supply, and that puts upward pressure on rates." Even as the Fed eventually starts to lower interest rates, experts warn of a lot more volatility in the market. As a result, homebuyers are being more patient and strategic about financing, comparing different loan types and planning ahead. "Some are waiting, others are getting pre-approved now so they're ready to act if rates fall," said Smith. For a look at mortgage rate movement in recent years, see the chart below. Mortgage predictions for 2025 Despite hopes that 2025 would bring relief to the housing market, economic and political instability have kept it stuck in neutral. Median family income has not kept pace with the surge in housing costs, requiring many households to earn double or triple their salary to afford a modest home in some cities. Meanwhile, the "lock-in" effect, where current homeowners with low-rate mortgages are reluctant to sell and take on higher interest rates, has kept housing inventory tight and fueled price competition in high-demand areas. According to Smith, home loan rates could decline slowly and steadily, but numerous risks could also keep rates elevated. Fannie Mae now expects rates around 6.1% by the end of 2025 and 5.8% by the end of 2026. What is a good mortgage type and term? Each mortgage has a loan term, or payment schedule. The most common mortgage terms are 15 and 30 years, although 10-, 20- and 40-year mortgages also exist. With a fixed-rate mortgage, the interest rate is set for the duration of the loan, offering stability. With an adjustable-rate mortgage, the interest rate is only fixed for a certain amount of time (commonly five, seven or 10 years), after which the rate adjusts annually based on the market. Fixed-rate mortgages are a better option if you plan to live in a home in the long term, but adjustable-rate mortgages may offer lower interest rates upfront. 30-year fixed-rate mortgages The 30-year fixed-mortgage rate average is 6.87% today. A 30-year fixed mortgage is the most common loan term. It will often have a higher interest rate than a 15-year mortgage, but you'll have a lower monthly payment. 15-year fixed-rate mortgages Today, the average rate for a 15-year, fixed mortgage is 6.06%. Though you'll have a bigger monthly payment than a 30-year fixed mortgage, a 15-year loan usually comes with a lower interest rate, allowing you to pay less interest in the long run and pay off your mortgage sooner. 5/1 adjustable-rate mortgages A 5/1 ARM has an average rate of 6.08% today. You'll typically get a lower introductory interest rate with a 5/1 ARM in the first five years of the mortgage. But you could pay more after that period, depending on how the rate adjusts annually. If you plan to sell or refinance your house within five years, an ARM could be a good option. Calculate your monthly mortgage payment Getting a mortgage should always depend on your financial situation and long-term goals. The most important thing is to make a budget and try to stay within your means. CNET's mortgage calculator below can help homebuyers prepare for monthly mortgage payments. How can I find the best mortgage rates? Though mortgage rates and home prices are high, the housing market won't be unaffordable forever. It's always a good time to save for a down payment and improve your credit score to help you secure a competitive mortgage rate when the time is right. Save for a bigger down payment: Though a 20% down payment isn't required, a larger upfront payment means taking out a smaller mortgage, which will help you save in interest. Boost your credit score: You can qualify for a conventional mortgage with a 620 credit score, but a higher score of at least 740 will get you better rates. Pay off debt: Experts recommend a debt-to-income ratio of 36% or less to help you qualify for the best rates. Not carrying other debt will put you in a better position to handle your monthly payments. Research loans and assistance: Government-sponsored loans have more flexible borrowing requirements than conventional loans. Some government-sponsored or private programs can also help with your down payment and closing costs. Shop around for lenders: Researching and comparing multiple loan offers from different lenders can help you secure the lowest mortgage rate for your situation.
Yahoo
an hour ago
- Yahoo
FTSE 100 LIVE: Stocks slip as Bank of England set to hold interest rates amid inflation fears
The FTSE 100 (^FTSE) and European stocks slipped on Thursday as traders await the latest decision on UK interest rates from the Bank of England (BoE), and weigh up the escalating conflict in the Middle East. Money markets believe there is a 96% chance that Threadneedle Street leaves rates on hold at 4.25% at noon on Thursday, and only a 4% possibility of a quarter-point cut. It comes as UK inflation fell last month from 3.5% to 3.4%, but remains above the BoE's 2% target, which could push higher if the Israel-Iran conflict drives up oil prices. Zara Nokes, global market analyst at JP Morgan Asset Management said: "Escalating tensions in the Middle East, and the upward pressure this is putting on oil prices, will only add to the Bank of England's concern about easing rates too quickly. "The Monetary Policy Committee will face a tougher choice when meeting again in August, given the combination of still-sticky inflation and evidence that the labour market is quite clearly cooling. "A deterioration in the labour market should, in theory, put downward pressure on inflation, but until there are clear signs of this in the hard data, the Bank should be careful not to claim victory over inflation quite yet, not least because of the uncertain geopolitical climate.' On Wednesday, the US Federal Reserve also kept rates unchanged at 4.25%-4.50% as widely expected. The updated Summary of Economic Projections (SEP) saw the median dot still projecting 50bps of cuts by year end, but with a hawkish shift in the distribution as seven officials now expect no cuts this year. In the press conference, Fed chair Jerome Powell highlighted that uncertainty remains historically elevated, even if it has diminished since the last meeting in early May. London's benchmark index (^FTSE) was 0.4% down in early trade. Germany's DAX (^GDAXI) dipped 0.7% and the CAC (^FCHI) in Paris also headed 0.7% into the red. The pan-European STOXX 600 (^STOXX) was down 0.6%. Wall Street is set for a negative start as S&P 500 futures (ES=F), Dow futures (YM=F) and Nasdaq futures (NQ=F) were all in the red. The pound was 0.1% down against the US dollar (GBPUSD=X) at 1.3412. Stocks: Create your watchlist and portfolio Follow along for live updates throughout the day: Stocks in Asia retreated overnight amid ongoing worries about conflict in the Middle East. The Nikkei (^N225) fell 1% on the day in Japan, while the Hang Seng (^HSI) fell 2% in Hong Kong on heavy selling of tech-related stocks. Shares in Japan's Nippon Steel rose 3% after it announced that its acquisition of US Steel, which met with American government opposition for more than a year, was finally completed. The Shanghai Composite ( was 0.8% down by the end of the session and in South Korea, the Kospi (^KS11) managed to add 0.2% on the day. Across the pond on Wall Street, US stocks drifted to a mixed finish after the Federal Reserve indicated it may cut interest rates twice this year, though it is far from certain about that. On Wall Street, the S&P 500 (^GSPC) was flat, at 5,980.87, the Dow Jones (^DJI) dropped 0.1%, to 42,171.66, and the Nasdaq (^IXIC) added 0.1%, to 19,546.27. President Donald Trump also increased tensions by warning that he may get directly involved in the conflict with Israel, however, Iran's supreme leader rejected US calls for surrender. In the bond market, the yield on 10-year US Treasury notes dipped to 4.396% from 4.405% a day earlier. US financial markets will be closed on Thursday for the Juneteenth holiday. Good morning, and welcome back to our markets live blog. As usual we will be taking a deep dive into what's moving markets and happening across the global economy. In the day ahead we have rates decisions from the BoE, Norges, and SNB. We will also get ECB's President Lagarde, Villeroy, Nagel and Guindos speak. It's a quieter day for data releases, including Eurozone April construction output and the June Philadelphia Business Outlook in the US. Here's a quick snapshot of the agenda: 7am: Trading updates: Wise, Whitbread Plc, NCC, Urban Logistics REIT 8.30am: Swiss National Bank interest rate decision 9am: Norges Bank interest rate decision 12pm: Bank of England interest rate decision 12pm: Bank of Turkey interest rate decisionStocks in Asia retreated overnight amid ongoing worries about conflict in the Middle East. The Nikkei (^N225) fell 1% on the day in Japan, while the Hang Seng (^HSI) fell 2% in Hong Kong on heavy selling of tech-related stocks. Shares in Japan's Nippon Steel rose 3% after it announced that its acquisition of US Steel, which met with American government opposition for more than a year, was finally completed. The Shanghai Composite ( was 0.8% down by the end of the session and in South Korea, the Kospi (^KS11) managed to add 0.2% on the day. Across the pond on Wall Street, US stocks drifted to a mixed finish after the Federal Reserve indicated it may cut interest rates twice this year, though it is far from certain about that. On Wall Street, the S&P 500 (^GSPC) was flat, at 5,980.87, the Dow Jones (^DJI) dropped 0.1%, to 42,171.66, and the Nasdaq (^IXIC) added 0.1%, to 19,546.27. President Donald Trump also increased tensions by warning that he may get directly involved in the conflict with Israel, however, Iran's supreme leader rejected US calls for surrender. In the bond market, the yield on 10-year US Treasury notes dipped to 4.396% from 4.405% a day earlier. US financial markets will be closed on Thursday for the Juneteenth holiday. Good morning, and welcome back to our markets live blog. As usual we will be taking a deep dive into what's moving markets and happening across the global economy. In the day ahead we have rates decisions from the BoE, Norges, and SNB. We will also get ECB's President Lagarde, Villeroy, Nagel and Guindos speak. It's a quieter day for data releases, including Eurozone April construction output and the June Philadelphia Business Outlook in the US. Here's a quick snapshot of the agenda: 7am: Trading updates: Wise, Whitbread Plc, NCC, Urban Logistics REIT 8.30am: Swiss National Bank interest rate decision 9am: Norges Bank interest rate decision 12pm: Bank of England interest rate decision 12pm: Bank of Turkey interest rate decision Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
