Typically, banks tend to be prompt in raising rates during a tightening phase but fail to display the same alacrity when interest rates are moving south
Stubbornly high interest rates and decreased housing inventory are contributing to the slide. It’s more of the same for the U.S. housing market as weekly mortgage applications are in retreat, mostly due to high home prices and robust interest rates.That’s the call from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending July 21, 2023.The survey found that Market Composite Index, which tracks U.S. mortgage loan application volume, slid by 1.8% from the
(Bloomberg) Turkish savers still get far higher interest on deposits than lenders charge for commercial credit, an anomaly that’s likely to persist with the central bank set to slow its already “gradual” monetary tightening.Most Read from BloombergSingapore Passport Is World’s Most Powerful, Replacing JapanMassive US Oil Caverns Sit Empty and Will Take Years to RefillTesla Investor Rode a 14,800% Gain Thanks to 27-Year-Old AnalystTokyo Heat Smashes 150-Year Trend as Extreme Weather Bakes Glob