Inflation in the U.S. economy remains too high and lending rates may need to move higher, U.S. Federal Reserve Chair Jerome Powell said in a highly anticipated speech on Friday.
With lending rates topping 7%, the Mortgage Bankers Association said Wednesday that applications for a home loan hit the lowest level in nearly 30 years.
With the rate on a 30-year, fixed-rate mortgage topping 7%, the number of applications for a loan toward a home purchase dropped nearly 1% week-on-week, the Mortgage Bankers Association reported Wednesday.
The State Bank of Vietnam (SBV) has asked banks in the country, both domestic and foreign, to further lower lending rates by expected 1.5-2 percentage points per annum to better support the country’s economic growth.
Loan interest rates: In August, top banks in India, such as HDFC Bank, and ICICI Bank, Bank of Baroda increased their marginal cost of funds-based lending rate (MCLR) across various tenors.