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Added on the 03/11/2022 15:20:50 - Copyright : Euronews EN
In March, the US Federal Reserve's lowering of interest rates fueled a housing boom. According to Business Insider, the Federal Housing Finance Agency says that the explosion shows no signs of subsiding. A seasonally adjusted index of prices rose 1.7% in September from the prior month, and prices jumped 7.8% from their year-ago period. Mortgage rates hit their thirteenth record-low of the year last week. The average 30-year fixed-rate mortgage rate fell to 2.72% from 2.84%. However, experts say the good times in the housing market aren't likely to last forever. We expect some moderation in the pace of housing starts in the face of the rapidly escalating health crisis, a faltering recovery, and softening labor market gains. Nancy Vanden Houten, Lead US economist, Oxford Economics
In this video we take a closer look at what happens when interest rates rise and examine the effect this could have on the housing market, investment bonds and how it could eventually strengthen the pound against other currencies
British wage growth slowed and unemployment remained unchanged in the final three months of 2015. Joel Flynn looks at what else is shaping the UK's economic outlook.
What the U.S Federal Reserve does next could prove the biggest influence on when the Bank of England starts to raise interest rates. And as Joel Flynn reports, some analysts believe a UK hike could come sooner than markets expect.
Bank of England Governor Mark Carney says the decision to raise interest rates from record lows will become clearer by the end of the year. Hayley Platt reports.
As new figures show the UK is in recession, with two successive quarters of falling GDP in Q3 and Q4 2023, the UK's Chancellor of the Exchequer Jeremy Hunt says that the economy is "more resilient than most people predicted" and insists that the government will "stick to our guns" on its plans to bring down inflation. News of the recession comes as voters go to the polls in two by-elections on Thursday, with the Conservatives fearful of losing one-time strongholds in Wellingborough, central England, and Kingswood in the southwest. SOUNDBITE
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