logo
US Mortgage Rates Climb After Five Straight Weeks of Declines

US Mortgage Rates Climb After Five Straight Weeks of Declines

Bloomberg10-07-2025
Mortgage rates in the US rose for the first time in six weeks.
The average for 30-year, fixed loans was 6.72%, up from 6.67% last week, Freddie Mac said in a statement.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Scotiabank Lays Off Investment Bankers in US, Asia Pacific
Scotiabank Lays Off Investment Bankers in US, Asia Pacific

Bloomberg

timea few seconds ago

  • Bloomberg

Scotiabank Lays Off Investment Bankers in US, Asia Pacific

By Crystal Tse, , and Christine Dobby Save Bank of Nova Scotia has carried out a series of layoffs in its US and Asia Pacific investment-banking divisions, according to people with knowledge of the matter. The Canadian lender cut a number of jobs this month, including multiple managing directors, and made major cuts to the US health-care team, said the people, who asked to not be identified discussing private information.

Bessent says Japan 'behind the curve' in monetary tightening, in Bloomberg interview
Bessent says Japan 'behind the curve' in monetary tightening, in Bloomberg interview

Yahoo

time28 minutes ago

  • Yahoo

Bessent says Japan 'behind the curve' in monetary tightening, in Bloomberg interview

TOKYO (Reuters) -U.S. Treasury Secretary Scott Bessent said Japan is being late in handling monetary tightening during an interview with Bloomberg Television. Bessent also said that U.S. Treasury yields are feeling the impact of overseas developments, including from Japan and Germany. "There's definitely leakage from — the Japanese have an inflation problem," Bessent said in the interview. Bessent mentioned that he had spoken with Bank of Japan Governor Kazuo Ueda. "My opinion, not his — they're behind the curve. So they're going to be hiking," he added. The U.S. Federal Reserve should lower the policy interest rate at least by 1.5%, Bessent also said, suggesting the central bank execute the rate cut by 50 basis points in September. Sign in to access your portfolio

US bankruptcies are surging past 2020 pandemic levels
US bankruptcies are surging past 2020 pandemic levels

Yahoo

time28 minutes ago

  • Yahoo

US bankruptcies are surging past 2020 pandemic levels

The US economy appears to be on a solid footing, but there's some pain beneath the surface. Corporate bankruptcies this summer have surged to their highest levels since 2020. The list for July filings includes names such as Del Monte Foods and LifeScan Global. Some beloved 1990s and 2000s brands were among the companies to file for bankruptcy this summer, continuing a troubling trend that hints at pain beneath the surface of the US economy. Shop Top Mortgage Rates A quicker path to financial freedom Personalized rates in minutes Your Path to Homeownership Forever 21 and Joann's are among the companies that filed for bankruptcy recently, with many famous retailers closing stores and reducing their physical footprint. Data from S&P 500 Global shows that this summer, US corporate bankruptcy filings surged to their highest level since 2020, with 71 public and private companies filing for bankruptcy last month. That's an increase from June, when 63 companies filed for bankruptcy. Despite a strong stock market and 3% economic growth in the second quarter, some once-prominent names reported hard times in July, citing difficult economic conditions. "Companies are contending with elevated interest rates as uncertainty from US tariff policy pressures costs and supply chain resilience," S&P 500 Global said. Canned goods producer Del Monte Foods, for example, filed for Chapter 11 bankruptcy, noting declining demand and high inventory costs. Leadership also cited a heavy debt burden. Del Monte had combined debts of between $1 billion and $10 billion, Business Insider reported last month. While the August numbers have not been reported yet, a few prominent companies have already filed for bankruptcy, including fashion retailer Claire's. The retailer submitted its second Chapter 11 filing on August 6, also citing declining demand and high interest rates. That puts it in the same category as Forever 21, Rite Aid, and Party City, all once-popular retail chains that have filed for bankruptcy and closed locations in 2025. Read the original article on Business Insider 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

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store