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Economy

Consumer prices rose 8.5% in March, slightly hotter than expected and the highest since 1981

Prices that consumers pay for everyday items surged in March to their highest levels since the early days of the Reagan administration, according to Labor Department data released Tuesday.The consumer price index, which measures a wide-ranging basket of goods and services, jumped 8.5%...

Mortgage rates surge as home affordability nears record worst

A "For Sale" sign outside a home in Louisville, Kentucky.Luke Sharrett | Bloomberg | Getty ImagesMortgage rates just hit their highest level since 2009, and home prices are continuing to experience double-digit gains. Now, nearly all of the major housing markets in the...

Weekly mortgage demand rose for the first time since early March last week, but it won’t last

Real estate listingsAdam Jeffery | CNBCA brief calm in the midst of a rising interest rate storm boosted weekly mortgage demand ever so slightly last week, but it is unlikely to be the start of a new trend. Rates have already moved sharply...

Private payrolls increased by 247,000 in April, well below the estimate, ADP says

A "We're Hiring" sign hangs on the front door of a toy store in Greenvale, New York, on Sept. 30, 2021.John Paraskevas/Newsday RM via Getty ImagesCompanies added far fewer jobs than expected in April as the struggle to find workers to fill open...

Fed raises rates by half a percentage point — the biggest hike in two decades — to fight inflation

WASHINGTON — The Federal Reserve on Wednesday raised its benchmark interest rate by half a percentage point, the most aggressive step yet in its fight against a 40-year high in inflation."Inflation is much too high and we understand the hardship it is causing....

Federal regulators propose revamp to fair lending and housing rules

Lumber at the site of a house under construction in the Cielo at Sand Creek by Century Communities housing development in Antioch, California, U.S., on Thursday, March 31, 2022.David Paul Morris | Bloomberg | Getty ImagesBank regulators on Thursday proposed the first sweeping...