Mortgage rates fell sharply Thursday after a government report showed that inflation had cooled in October, prompting a decline in bond yields. The average rate on the 30-year fixed plunged 60 basis points from 7.22% to 6.62%, according to Mortgage News Daily. That matches the record drop at the start of the Covid 19 pandemic.
On the heels of her election, New York Gov. Kathy Hochul returns to Albany to face the stiffest resistance yet to her $8 billion plan to redevelop Manhattan’s Penn Station, as a recently filed lawsuit seeks to halt the project before it breaks ground. The lawsuit, filed in New York Supreme Court late last month
Global regulators are closing in on embattled crypto exchange FTX as fallout spreads in digital asset markets and founder Sam Bankman-Fried pursues a last-ditch effort to raise up to $8bn in fresh funds. Authorities in Japan, Australia and the Bahamas, where FTX is based, have all taken actions as worries mount that customers in one
Municipals rallied hard Thursday with the greatest gains seen out long after a lower-than-expected consumer price index report showed inflation is cooling, boosting all markets. U.S. Treasuries rallied out of the gates seeing yields close the session up to 31 basis points lower on the short end of the curve, while equities made massive gains,
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