September 9, 2026
United States:
US Mortgage Rates Rise to 6.85%, Highest in More Than a Year
US mortgage rates climbed to a more than one-year high last week, extending a steady rise in borrowing costs since the start of the Iran war.
The contract rate on a 30-year mortgage rose 6 basis points to 6.85% in the week ended Sept. 4, according to Mortgage Bankers Association data released Wednesday.
Europe:
UK Food Inflation Will Hit 6% on El Niño and Drought, Firms Warn
A string of shocks from El Niño, summer droughts and war in Iran will push UK food inflation above 6% next year, according to forecasts by the country’s food producers.
The Food and Drink Federation warned that food inflation will hit almost 4% by Christmas, more than double the current rate, before accelerating to a peak of 6.4% in July 2027.
Asia:
Chinese Inflation Revives as Oil Spike, AI Boom Feed Into Prices
China’s consumer inflation accelerated for the first time since April and factory-gate prices grew faster than expected, as more expensive food and energy revive cost pressures.
The consumer-price index rose 0.8% in August from a year earlier, in line with forecasts and up from 0.5% in the previous month, according to data released by the National Bureau of Statistics on Wednesday.
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