April 24, 2024
United States:
US 30-Year Mortgage Rate Rises to Five-Month High of 7.24%
US mortgage rates increased to the highest level in five months, pushing down home-purchase applications for the fifth time in the last six weeks.
The contract rate on a 30-year fixed mortgage increased 11 basis points in the week ended April 19 to 7.24%, the highest since Nov. 24, according to Mortgage Bankers Association data released Wednesday. The index of mortgage applications for home purchases fell 1%.
Europe:
European Gas Traders Are Already Worrying About Next Winter
After more than a year’s respite from record price swings in Europe’s natural gas market, traders are getting agitated again.
While demand remains muted and the region exited the heating season with the highest stocks on record, industry players gathering at the Flame conference in Amsterdam this week see risks mounting. And prices are responding.
https://www.bloomberg.com/news/articles/2024-04-24/is-europe-s-energy-crisis-over
Asia:
Yen Weakens Past Key 155 Level, Adding to Intervention Risk
The yen weakened beyond 155 per dollar for the first time in more than three decades, fueling risk that the key level may prompt Japan to step into the market.
The Asian nation’s currency depreciated as much as 0.2% to a session low of 155.17 on Wednesday, marking the first time since June 1990 the yen crossed the 155 level against the greenback. The yen pared the move and traded around 154.92 as of around 9:10 a.m. New York time.
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