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Mortgage rates have ticked up slightly after starting the week at the lowest point they've been in several months. If this is the case, mortgage rates may trend down further in the new year. However, if the Fed determines that it needs to continue raising rates for longer than expected, mortgage rates could remain elevated throughout 2023. If the Fed acts too aggressively and engineers a recession, mortgage rates could fall further than what current forecasts expect. This means your entire monthly mortgage payment, including taxes and insurance, shouldn't exceed 28% of your pre-tax monthly income.

☆ Pilot pay is skyrocketing in the airline industry and it could keep airfare sky high
▼ + stars: | 2022-12-07 | by ( Taylor Rains | ) www.businessinsider.com time to read: +5 min

Pilots are seeing big pay bumps across the industry. Taylor Rains/InsiderDelta Air Lines and its pilot union have come to a preliminary agreement to increase wages by over 30%. Pilot pay raises could increase airfare as labor is the number one cost for airlines. But pilot pay raises may be a more effective way to attract and retain talent. Increased pay could mean higher faresAs more major carriers potentially solidify additional pay raises, it's possible the industry's already high airfare could increase even more as labor is the number one cost for airlines.

Though mortgage rates aren't directly impacted by Fed hikes, rates often trend up or down based on how investors expect Fed policy to affect the broader economy. See more mortgage rates on Zillow Real Estate on ZillowToday's refinance ratesMortgage type Average rate today This information has been provided by Zillow. See more mortgage rates on Zillow Real Estate on ZillowMortgage calculatorUse our free mortgage calculator to see how today's mortgage rates will affect your monthly and long-term payments. Whether mortgage rates will drop in 2023 hinges on if the Federal Reserve can get inflation under control. This means your entire monthly mortgage payment, including taxes and insurance, shouldn't exceed 28% of your pre-tax monthly income.

Mortgage rates have trended down this week following a speech Federal Reserve Chair Jerome Powell gave at the Brookings Institution on Wednesday. As the Fed has aggressively hiked rates this year, mortgage rates have also been pushed up. Because of this, borrowers shouldn't expect mortgage rates to drop dramatically any time soon. See more mortgage rates on Zillow Real Estate on ZillowMortgage refinance rates todayMortgage type Average rate today This information has been provided by Zillow. See more mortgage rates on Zillow Real Estate on ZillowMortgage calculatorUse our free mortgage calculator to see how today's mortgage rates will affect your monthly and long-term payments.

Mortgage rates are now more than half a percentage point lower than they were a month ago. See more mortgage rates on Zillow Real Estate on ZillowToday's refinance ratesMortgage type Average rate today This information has been provided by Zillow. Whether mortgage rates will drop in 2023 hinges on if the Federal Reserve can get inflation under control. If the Fed acts too aggressively and engineers a recession, mortgage rates could fall further than what current forecasts expect. This means your entire monthly mortgage payment, including taxes and insurance, shouldn't exceed 28% of your pre-tax monthly income.

As the Fed has increased rates this year to try to tame inflation, mortgage rates have gone up, as well. High mortgage rates have depressed homebuying demand, and home prices are starting to drop on a monthly basis as as result. See more mortgage rates on Zillow Real Estate on ZillowMortgage calculatorUse our free mortgage calculator to see how today's mortgage rates will affect your monthly and long-term payments. If the Fed acts too aggressively and engineers a recession, mortgage rates could fall further than what current forecasts expect. This means your entire monthly mortgage payment, including taxes and insurance, shouldn't exceed 28% of your pre-tax monthly income.

☆ Euro zone inflation rate eases slightly to 10% as surge in energy prices slows
▼ + stars: | 2022-11-30 | by ( Silvia Amaro | ) www.cnbc.com time to read: +2 min

Markets track the latest inflation data out of the euro zone ahead of a new ECB meeting. Inflation in the euro zone slowed slightly in November, according to preliminary figures out Wednesday, with prices coming off record highs and missing analyst expectations. Inflation rose above the 10% mark last month, highlighting the severity of the cost-of-living crisis in the bloc. The initial data Wednesday from Europe's statistics office showed headline inflation at an annual 10% this month — representing a 0.6 percentage point fall from October. Energy and food continued to contribute to the lofty inflation figures, but with a noticeable drop in the former.

A debate on lifting central banks' inflation targets re-surfaced this week - feeding speculation about just how much economic pain monetary policymakers are willing to inflict to drag decades-high inflation back to largely arbitrary 2% goals. Former International Monetary Fund chief economist and long-term advocate of higher inflation targets Olivier Blanchard thinks 3% could and probably should be the new 2%. That prodded central banks into extraordinary asset purchases, negative interest rates or both just to try and get inflation back up to 2%. And counter-intuitively for some he emphasised that higher inflation would not imply looser policy. So good and bad news - a potentially more balanced economy, with better wage distribution but higher nominal interest rates that may spook financial markets trying to parse the trajectory for Fed or European Central Bank interest rates years hence.

Mortgage rates remained relatively low this week, and the latest economic data points to rates trending down further in 2023. See more mortgage rates on Zillow Real Estate on ZillowMortgage refinance rates todayMortgage type Average rate today This information has been provided by Zillow. See more mortgage rates on Zillow Real Estate on ZillowMortgage calculatorUse our free mortgage calculator to see how today's mortgage rates will affect your monthly and long-term payments. Whether mortgage rates will drop in 2023 hinges on if the Federal Reserve can get inflation under control. If the Fed acts too aggressively and engineers a recession, mortgage rates could fall further than what current forecasts expect.

Mortgage rates have trended down recently and are holding steady today. Rates have increased dramatically throughout most of 2022, pushing the typical monthly mortgage payment further out of reach for many cash-strapped buyers. According to the Mortgage Bankers Association, the median mortgage payment applied for by applicants increased to $2,012 in October. If the Fed acts too aggressively and engineers a recession, mortgage rates could fall further than what current forecasts expect. This means your entire monthly mortgage payment, including taxes and insurance, shouldn't exceed 28% of your pre-tax monthly income.

☆ Stellantis looks to India for affordable EVs for Europe
▼ + stars: | 2022-11-24 | by ( Aditi Shah | ) www.reuters.com time to read: +3 min

NEW DELHI, Nov 24 (Reuters) - Fiat parent Stellantis (STLA.MI) has concluded it can't currently make affordable electric vehicles (EVs) in Europe and is looking at lower-cost manufacturing in markets such as India, its chief executive told reporters. "So far, Europe is unable to make affordable EVs. Stellantis is investing heavily in EVs and plans to produce dozens in the coming decade, but Tavares warned last month that affordable battery EVs were between five and six years away. The power that is best placed to leverage this opportunity is obviously India," Tavares said. The carmaker plans to launch its first EV in India - an electric model of its Citroen C3 compact car - early next year.

Mortgage rates started inching up mid-week but are back down today. See more mortgage rates on Zillow Real Estate on ZillowMortgage calculatorUse our free mortgage calculator to see how today's mortgage rates will affect your monthly and long-term payments. Whether mortgage rates will drop in 2023 hinges on if the Federal Reserve can get inflation under control. If the Fed acts too aggressively and engineers a recession, mortgage rates could fall further than what current forecasts expect. This means your entire monthly mortgage payment, including taxes and insurance, shouldn't exceed 28% of your pre-tax monthly income.

☆ ECB accounts show inflation fears justifying more rate hikes
▼ + stars: | 2022-11-24 | by ( ) www.reuters.com time to read: +2 min

FRANKFURT, Nov 24 (Reuters) - European Central Bank policymakers feared that inflation may be getting entrenched at their last policy gathering so rates would need to rise further, the accounts of the Oct 26-27 meeting showed on Thursday. The ECB raised rates by 75 basis points to 1.5% at the meeting to fight sky high inflation, bringing its total hikes to 200 basis points since July for its fastest policy tightening on record. "It was also clear that rates would need to be raised further to reach a level that would deliver on the ECB’s 2% medium-term target," the accounts of the meeting showed. The 75-basis-point rate hike was supported by a large majority, although a "few" policymaker wanted a smaller, 50-basis-point move. Even if the ECB slows down, markets see the deposit rate doubling to 3% next year as inflation, now at 10.6%, will take years, possibly until 2025, to fall back to the ECB's 2% target.

☆ World Cup 1950: When the US beat England in the greatest sporting upset of all time
▼ + stars: | 2022-11-24 | by ( Ben Morse | ) edition.cnn.com time to read: +10 min

CNN —On one side of the pitch was a team made up some of the biggest names in world soccer. Described as a “real bunch of ragamuffins” by the author Geoffrey Douglas, the US beat a star-studded England side 1-0 at the 1950 World Cup. I mean, a plucky group of underdogs just beat what was generally universally recognized as the best team in the world,” Holroyd told CNN Sport. PA Images/ReutersAnd so when the 1950 World Cup approached, there was little national interest or coverage of the US’ participation. On the other side of the pond, hopes were sky high for a star-studded England team.

Average 30-year fixed mortgage rates dropped nearly 50 basis points last week, and rates remain low today. Based on current conditions, there are a few possible outcomes we could see in regards to mortgage rates in 2023. In this case, mortgage rates would likely come down faster, but it would be at the expense of a healthy economy. See more mortgage rates on Zillow Real Estate on ZillowMortgage calculatorUse our free mortgage calculator to see how today's mortgage rates will affect your monthly and long-term payments. If the Fed acts too aggressively and engineers a recession, mortgage rates could fall further than what current forecasts expect.

Mortgage rates trended down quite a bit this week, providing some wiggle room for buyers who have been struggling with affordability. But decreasing mortgage rates are a double-edged sword, since low rates typically create more competition among buyers, pushing home prices up. Whether mortgage rates will drop in 2023 hinges on if the Federal Reserve can get inflation under control. If the Fed acts too aggressively and engineers a recession, mortgage rates could fall further than what current forecasts expect. This means your entire monthly mortgage payment, including taxes and insurance, shouldn't exceed 28% of your pre-tax monthly income.

Average 30-year fixed mortgage rates dropped back below 7% this week and are now at 6.61%. "While the decline in mortgage rates is welcome news, there is still a long road ahead for the housing market. See more mortgage rates on Zillow Real Estate on ZillowMortgage calculatorUse our free mortgage calculator to see how today's mortgage rates will affect your monthly and long-term payments. If the Fed acts too aggressively and engineers a recession, mortgage rates could fall further than what current forecasts expect. This means your entire monthly mortgage payment, including taxes and insurance, shouldn't exceed 28% of your pre-tax monthly income.

☆ Indeed and Glassdoor Report: Labor Shortages Will Be Around for Years
▼ + stars: | 2022-11-17 | by ( Juliana Kaplan | Madison Hoff | ) www.businessinsider.com time to read: +6 min

A new Indeed and Glassdoor report looks at long-term trends for the labor market. A new Indeed and Glassdoor report looked at long-term labor market trends. One key trend: Labor supply will remain tight, especially as the number of people who are considered working age continues to dwindle. Obviously, that takes a little while to spill over into the labor force, as the country still deals with its own labor squeeze. And, in Germany, the labor market situation is still a problem, but hasn't been as challenging over the last few years.

Last week was a good week for mortgage rates, and they're holding steady today. As long as the Fed continues raising rates, mortgage rates will likely also remain elevated. See more mortgage rates on Zillow Real Estate on ZillowMortgage refinance rates todayMortgage type Average rate today This information has been provided by Zillow. See more mortgage rates on Zillow Real Estate on ZillowMortgage calculatorUse our free mortgage calculator to see how today's mortgage rates will affect your monthly and long-term payments. If the Fed acts too aggressively and engineers a recession, mortgage rates could fall further than what current forecasts expect.

Mortgage rates plunged following last week's Consumer Price Index report, and they remain low today. If inflation continues to show signs of easing, mortgage rates could start trending down sooner than expected. Most forecasts currently expect mortgage rates to remain elevated for the remainder of 2022 and into the new year, with some moderate decreases coming later in 2023. If the Fed acts too aggressively and engineers a recession, mortgage rates could fall further than what current forecasts expect. This means your entire monthly mortgage payment, including taxes and insurance, shouldn't exceed 28% of your pre-tax monthly income.

See more mortgage rates on Zillow Real Estate on ZillowToday's refinance ratesMortgage type Average rate today This information has been provided by Zillow. See more mortgage rates on Zillow Real Estate on ZillowMortgage calculatorUse our free mortgage calculator to see how today's mortgage rates will affect your monthly and long-term payments. Whether mortgage rates will drop in 2023 hinges on if the Federal Reserve can get inflation under control. If the Fed acts too aggressively and engineers a recession, mortgage rates could fall further than what current forecasts expect. This means your entire monthly mortgage payment, including taxes and insurance, shouldn't exceed 28% of your pre-tax monthly income.

☆ Don’t Expect Cheap Airfares to Come Back Soon, Airline Executives Say
▼ + stars: | 2022-11-08 | by ( Alison Sider | Benjamin Katz | ) www.wsj.com time to read: 1 min

Airfares are sky high, and airline executives expect them to stay that way. Airlines are battling surging costs for fuel and labor. Meanwhile, worker shortages and delayed plane deliveries are preventing them from adding more flights when more people want to fly.

Price growth and Fed policy have helped push mortgage rates up to their highest levels in two decades. As inflation starts to come down in the new year, mortgage rates should ease, too. See more mortgage rates on Zillow Real Estate on ZillowMortgage refinance rates todayMortgage type Average rate today This information has been provided by Zillow. See more mortgage rates on Zillow Real Estate on ZillowMortgage calculatorUse our free mortgage calculator to see how today's mortgage rates will affect your monthly and long-term payments. If the Fed acts too aggressively and engineers a recession, mortgage rates could fall further than what current forecasts expect.

Average 30-year fixed mortgage rates are currently the highest they've been in 20 years, according to Freddie Mac. See more mortgage rates on Zillow Real Estate on ZillowToday's refinance ratesMortgage type Average rate today This information has been provided by Zillow. Whether mortgage rates will drop in 2023 hinges on if the Federal Reserve can get inflation under control. If the Fed acts too aggressively and engineers a recession, mortgage rates could fall further than what current forecasts expect. This means your entire monthly mortgage payment, including taxes and insurance, shouldn't exceed 28% of your pre-tax monthly income.

But as markets settle in due to expectations of more hikes from the Federal Reserve, it's possible that mortgage rates won't rise much further this year. See more mortgage rates on Zillow Real Estate on ZillowMortgage calculatorUse our free mortgage calculator to see how today's mortgage rates will affect your monthly and long-term payments. Whether mortgage rates will drop in 2023 hinges on if the Federal Reserve can get inflation under control. If the Fed acts too aggressively and engineers a recession, mortgage rates could fall further than what current forecasts expect. This means your entire monthly mortgage payment, including taxes and insurance, shouldn't exceed 28% of your pre-tax monthly income.

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