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The Latest Breaking News from Interest Rates

Homeownership grows more unaffordable as average new mortgage payment increases over 95%

FORT LAUDERDALE, Fla. — The average new mortgage payment for a home has almost doubled in South Florida over the past year as interest rates skyrocket.

Tribune News Service

EXPLAINER: What's up with the Bank of Japan's unique track?

Even as the Federal Reserve and the world’s other central banks raise interest rates to try to curb inflation, the Bank of Japan has stood firm, keeping its key interest rate at minus 0.1%

The Independent UK

The 'Experts' Were Never Going To Fix Inflation

The idea that the Fed has the knowledge necessary to control the economy with perfectly calibrated policies was always an illusion.

Reason

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ANZ revenue rises off interest rates and banks raise RBA cash rate forecasts

Helped by cash rate hikes, ANZ's revenue has risen 5 per cent. Meanwhile, other banks are raising forecasts of how far the RBA will hike the cash rate.

ABC News

‘Winter is coming’: Commercial property sector plans for recession

DALLAS – Commercial real estate industry leaders are preparing for tougher times – tighter lending, higher interest rates and likely a recession.

Tribune News Service

Barclays beats City forecasts, but bad debts rise

RISING interest rates pushed Barclays to £2 billion profit for the last three months, about £200 million better than City forecasts.

Evening Standard

Krungsri remains upbeat on mortgage demand in Q4

Bank of Ayudhya (Krungsri) believes the trend of rising interest rates will not affect real demand for mortgages, predicting positive demand in the final quarter this year.

Bangkok Post

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Home Flipping Is Down, And Those That Remain Are Looking For Cash Investors

The demise of a formerly hot home market, torn apart by increasing mortgage interest rates, is now beginning to affect a once thriving home-flipping environment.

Benzinga

Apple Reportedly Cuts Back Production of iPhone 14 Plus Due to Weak Demand

Apple Inc is cutting back production of iPhone 14 Plus and is increasing the output of the more expensive iPhone 14 Pro due to lukewarm demand, market research firm TrendForce said Tuesday. The share of more expensive iPhone 14 Pro series has increased to 60% of the total output from…

Asharq Al-Awsat

Jim Chalmers’ first budget comes amid a darkening economic outlook. Here’s what could go wrong

The federal budget forecasts growth of 3.25% this year but hints at a slowing global economy with high inflation and interest rates

The Guardian - AU

Calls for UK banks windfall tax as HSBC reports profits of $700m more than predicted

Bank records quarterly profits above $3.2bn estimated as interest rates rise on back of higher borrowing costs

The Guardian - UK

FTSE 100 Live: Jeremy Hunt to stay as chancellor; HSBC profits fall

Big Tech shares were shaken last night after Google and YouTube parent company Alphabet posted weaker-than-expected revenues and earnings figures.

Evening Standard

Vietnam raises key rates by 100 basis points as dong slumps

Vietnam’s central bank unexpectedly raised interest rates by another 1 percentage point for a second straight month to help ease pressure on a currency that has slumped to a record low.

Bangkok Post

Australia to reveal economic plan for deteriorating outlook

Australia’s new government will propose an economic plan to steer the nation through rising inflation and interest rates while reigning in debt

The Independent UK

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Tribune News Service

Bay Area the only region in California where homes are selling for less than a year ago

Perhaps it was inevitable — what goes up, up, up, must come down eventually. Homes in the Bay Area are now selling for less than they were a year ago, the only part of California where that is true, as rising interest rates continue to throw cold water on the…

Bangkok Post

Higher Interest Rates Can Take a Long Time to Bring Down Inflation

The world's central banks face a nail-biting wait.

Benzinga

Want To Earn High Interest From Savings? Here Are the Best Banks For CDs (Certificates Of Deposit)

These days, traditional savings accounts have not offered much to investors for some time. But now that the Federal Reserve is raising interest rates, big banks are raising rates as well.

Benzinga

Former Fed Vice Chairman Roger Ferguson Thinks The Markets Have It Wrong And Rate Hikes Will Continue Into 2023

Roger Ferguson, former vice chairman of the Federal Reserve and former CEO of TIAA, joined CNBC’s ‘Squawk Box’ earlier Monday morning to discuss what he expects to come from the Fed.

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Benzinga

This Real Estate Brokerage Believes The Residential Housing Market Is In Peril and 'Winter Is Coming'

Rising home mortgage interest rates, a lack of seller inventory and still high home prices have thrown the residential real estate industry and investment strategies into a tailspin.

The New Daily

More than $100,000 wiped from Sydney property prices as rate hikes bite

Property prices are plunging fast as rising interest rates push down property prices, leaving the market mired in uncertainty.

Asharq Al-Awsat

ECB again Eyes Jumbo Rate Hike to 'Tame Inflation Beast'

The European Central Bank is expected to set aside recession worries and deliver another jumbo interest rate hike this week to cool inflation, as Russia's war on Ukraine sends energy prices soaring. Inflation in the 19-nation eurozone climbed to an all-time high of nearly 10 percent in September, five times…

Benzinga

Yen Falls To 32-Year Low Against The Dollar

It’s one of the many effects of the rise in interest rates in the United States: The Japanese yen has fallen to a 32-year low versus the dollar. The government in Tokyo will not allow its 10-year yield to rise above 0.25% — it’s a government finance policy mandate —…

The Times of India

SBI hikes term deposit rates by up to 0.80%

MUMBAI: The country's largest lender SBI on Friday upped its interest rates on term deposits by up to 0.80 per cent amid a 'war for deposits' in the banking system.

Benzinga

Why REITs Are Being Sold And Avoided

Why REITs Are Being Sold And Avoided Interest rates, interest rate hikes and expectations about further interest rate hikes are creating problems for real estate investment trusts.

The Independent UK

Install new PM by Tuesday or risk higher interest rates, former cabinet secretary warns Tories

Liz Truss’s successor might not emerge for another week – but Gus O’Donnell warns that is too late

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