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Mortgage Refinance Demand Spikes 20% as Borrowers Fear Missing Out on Record-Low Rates
After setting more than a dozen record lows last year, mortgage rates began 2021 on an upward climb. That lit a fire under borrowers hoping to refinance.
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Fed's Esther George Cautions That Inflation Could Rise Faster Than Expected
Long-dormant inflation could rebound more quickly than anticipated, Kansas City Fed President Esther George said Tuesday.
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Hospitality Industry Sees Drop in Job Openings and Surge in Separations as Shutdowns Take Hold
Job openings decreased in November, with the biggest hit coming to the battered hospitality industry as the Covid pandemic surges.
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Fed's Bostic Sees Possible Interest Rate Hike as Soon as the Second Half of Next Year
Rates could rise sooner than forecast as the economy recovers more quickly than expected from Covid-19, Bostic said Monday
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Clarida Says Fed Bond Purchases to Keep Pace Through the Rest of the Year
The Fed is buying at least $120 billion a month, split between a minimum $80 billion in Treasurys and $40 billion in mortgage-backed securities.
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US Loses 140,000 Jobs, First Monthly Drop Since Spring
U.S. employers shed jobs last month for the first time since April, cutting 140,000 positions, clear evidence that the economy is faltering as the viral pandemic tightens its grip on consumers and businesses
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Asian Shares Mostly Up on Wall Street Rally, Stimulus Hopes
Asian shares are mostly higher on hopes for additional economic stimulus after the U.S. Congress confirmed Joe Biden as the winner of the presidential election
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Buyers and Sellers Are Substantially More Pessimistic About the Housing Market, as Covid Cases Surge Again
After a strong surge in home sales over the past six months, suddenly consumers are concerned about the overall health of the housing market.
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Cash in Circulation Is Soaring, and That Usually Means Good Things for the Economy
Currency in circulation soared last year at a rate unseen since World War II, providing what historically has been a good sign for the economy.
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IMF's Top Economist Expects a Global Recovery in the Second Half of the Year
“It’s a very dark and difficult winter, but there is light at the end of the tunnel,” Gita Gopinath, the IMF’s chief economist, told CNBC.
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Why the Fed's Inflation Push Could Turn From Friend to Foe for the Market This Year
The Fed enters 2021 with a fresh challenge on its plate, namely whether its commitment to higher inflation will poison markets.
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Home Prices Are Rising Faster in the Middle of the U.S. as Covid Drives People Away From Coasts
Home prices are rising across the nation, but the usual geographical trends are being turned on their heads by the coronavirus pandemic.
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S&P 500 Ends at Another Record High as Tumultuous 2020 Ends
The S&P 500 and the Dow Jones Industrial Average ended 2020 at more record highs Thursday, closing out one of the most tumultuous years in recent memory.
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Inflation Is Poised to Rear Its Head in 2021 But May Not Stick Around Long
Bond market traders and Wall Street experts have been signaling rising inflation from its current dormant levels.
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Movie Releases Next Year Could Make for an ‘Embarrassment of Riches,' Imax CEO Says
“In a way, 2021, if things do open early in the year, it’s an embarrassment of riches There’s an awful lot of content, and that’s true on a global basis,” Imax CEO Richard Gelfond said.
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Surge in Online Shopping Is Straining America's Busiest Port, Official Says
Shipments processed at the Port of Los Angeles were up 22% in November as American consumers bought more goods online, Executive Director Gene Seroka said.
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Why Lawmakers From Both Parties Hope Trump ‘Calms Down and Simply Signs the Bill Very Quietly'
CNBC contributor Ben White explains how Congress could override a veto from President Trump on the Covid stimulus bill.
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Crypto Investor Novogratz Hopes for ‘Open-Minded' Regulators in Biden Administration
Cryptocurrency companies are willing to accept regulations, but in a way that protects innovation, not fights it, Galaxy Digital founder Michael Novogratz said.
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Here's How an Extra $300 Will Affect Unemployment Benefits in Your State
Congress passed a Covid relief bill that offers a temporary $300 boost in weekly unemployment benefits. Its relative impact will vary by state.
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Homebuyer Demand for Mortgages Eases to End a Record-Breaking 2020
Mortgage demand ended the year significantly higher than 2019, but appears to be cooling off a little for the holidays.