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Newsfeed: It’s bad enough mortgage rates are over 7% – now it’s harder to qualify for a home loan

Newsfeed: It’s bad enough mortgage rates are over 7% – now it’s harder to qualify for a home loan

It’s a double whammy for would-be homebuyers. Not only are interest rates soaring, it’s getting harder to qualify for a loan. The average rate on the popular 30-year fixed mortgage climbed over 7% at the end of last week, according to Mortgage News Daily, and is expected to hit around 7.125% on Tuesday. It’s been over 7% for several days.

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Newsfeed: Bank of England intervenes in bond markets again, warns of ‘material risk’ to UK financial stability

Newsfeed: Bank of England intervenes in bond markets again, warns of ‘material risk’ to UK financial stability

The Bank of England on Tuesday announced an expansion of its emergency bond-buying operation as it looks to restore order to the country’s chaotic bond market. The central bank said it will widen its purchases of U.K. government bonds — known as gilts — to include index-linked gilts from Oct. 11 until Oct. 14. Index-linked gilts are bonds where payouts to bondholders are benchmarked in line with the U.K. retail price index.

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Newsfeed: No Pivot? BOE Says Rate Hikes Will Continue – Inflation Must Be Stopped

Newsfeed: No Pivot? BOE Says Rate Hikes Will Continue – Inflation Must Be Stopped

In a market environment where the only hope left is a central bank pivot away from rate hikes and back to QE, any slight detour by any central bank in the west is now put under a microscope with excitement as if stocks are about to be saved. The Bank of England’s minimal intervention in long term gilt purchases to stave off a collapse in the UK pension system recently had investors buzzing with dreams that this was the beginning of a pivot by other central banks back to stimulus. This is not the case.

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Newsfeed: ADP Reports Better Than Expected Jump In Jobs In September, Wage Growth Accelerates

Newsfeed: ADP Reports Better Than Expected Jump In Jobs In September, Wage Growth Accelerates

Ahead of Friday’s big number, and following last month’s dismal print (under its new model regime) which dramatically under-predicted the payrolls print in August, ADP was expected to show a modest uptick in September of 200k jobs. The actual print came in at +208k jobs but most notably, the +132k print from August was revised drastically higher to +185k…

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