July 9, 2025
United States:
US Mortgage Applications to Buy a Home Jump to Two-Year High
US mortgage applications to purchase a home jumped to the highest level since early 2023 last week, even as borrowing costs barely budged.
The Mortgage Bankers Association’s index of home-purchase applications advanced 9.4% in the week ended July 4, according to data out Wednesday.
Europe:
ECB Should Neither Plan Nor Rule Out Further Cuts, Nagel Says
The European Central Bank must keep all its options open, given elevated economic uncertainty, and should neither promise nor exclude another cut in interest rates, according to Governing Council member Joachim Nagel.
“It seems fair to say we are in a good position to respond to further developments,” the Bundesbank president said Wednesday in Tuebingen, Germany. “Yet it would be unwise to commit to a certain interest-rate path, to envisage a further step or indeed, to rule it out.”
Asia:
China’s Producer Deflation Worsens as Weak Demand Persists
China’s producer prices fell the most in nearly two years, overshadowing a modest improvement in consumer prices and adding to the urgency to tackle deflationary pressures.
Factory deflation persisted into a 33rd month, with the producer price index falling 3.6% from a year earlier, the National Bureau of Statistics said Wednesday.
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