Jerry Lin
The Latest
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Mortgage Rates Surpass 7% Amid Persistent Housing Market Challenges
Mortgage rates climbed above 7% for the first time since May, signaling continued affordability hurdles for prospective homebuyers. The average rate on a 30-year fixed mortgage reached 7.04% for the week ending January 16, according to Freddie Mac, marking the fifth consecutive week of increases. This development underscores the resilience of economic forces that have kept borrowing costs elevated despite recent Federal Reserve actions to lower interest rates. 
Mortgage rates climbed above 7% for the first time since May, signaling continued affordability hurdles for prospective homebuyers. The average rate on a 30-year fixed mortgage reached 7.04% for the week ending January 16, according to Freddie Mac, marking the fifth consecutive week of increases. This development underscores the resilience of economic forces that have kept borrowing costs elevated despite recent Federal Reserve actions to lower interest rates. -
Bitcoin Briefly Hits $100,000 Amid Cooling Inflation and Market Optimism
Bitcoin reached a milestone on Wednesday, briefly surpassing $100,000 as investors responded to fresh signs of easing inflation and a more favorable economic outlook. The cryptocurrency, which saw a 4% increase in 24 hours, reflected broader enthusiasm for risk assets, including equities, as expectations of a less aggressive Federal Reserve gained traction. 
Bitcoin reached a milestone on Wednesday, briefly surpassing $100,000 as investors responded to fresh signs of easing inflation and a more favorable economic outlook. The cryptocurrency, which saw a 4% increase in 24 hours, reflected broader enthusiasm for risk assets, including equities, as expectations of a less aggressive Federal Reserve gained traction. -
Germany’s Economy Shrinks 0.2% in 2024, Marking First Two-Year Decline in Two Decades
Germany's economy contracted by 0.2% in 2024, marking its second consecutive annual decline and the first two-year contraction since 2002-2003, according to data released Wednesday by the country's statistics office, Destatis. The figures highlight persistent structural and cyclical challenges in Europe's largest economy, including pressures on key industries and rising costs. 
Germany's economy contracted by 0.2% in 2024, marking its second consecutive annual decline and the first two-year contraction since 2002-2003, according to data released Wednesday by the country's statistics office, Destatis. The figures highlight persistent structural and cyclical challenges in Europe's largest economy, including pressures on key industries and rising costs. -
Core Inflation Slows to 3.2% in December, Below Forecasts as Energy Prices Surge
Inflation pressures showed signs of easing in December, with the core Consumer Price Index (CPI) rising at an annual rate of 3.2%, slightly below forecasts and marking the first deceleration in the metric since July. The Bureau of Labor Statistics (BLS) data released Wednesday signaled a modest improvement in price stability, even as energy costs surged. 
Inflation pressures showed signs of easing in December, with the core Consumer Price Index (CPI) rising at an annual rate of 3.2%, slightly below forecasts and marking the first deceleration in the metric since July. The Bureau of Labor Statistics (BLS) data released Wednesday signaled a modest improvement in price stability, even as energy costs surged. -
China’s Central Bank Injects Near-Record Liquidity to Tackle Cash Crunch, Support Yuan
China's central bank has infused nearly $131 billion into its financial system, marking one of its largest liquidity injections on record. The move comes as the People's Bank of China (PBOC) works to address heightened demand for cash ahead of the Lunar New Year while simultaneously shoring up the embattled yuan. 
China's central bank has infused nearly $131 billion into its financial system, marking one of its largest liquidity injections on record. The move comes as the People's Bank of China (PBOC) works to address heightened demand for cash ahead of the Lunar New Year while simultaneously shoring up the embattled yuan. -
U.S. Wholesale Inflation Eases in December as Energy Costs Climb
U.S. producer prices rose modestly in December, signaling some easing in wholesale inflationary pressures, although energy costs continue to exert upward pressure. The Labor Department reported Tuesday that the producer price index (PPI), which measures price changes at the wholesale level, increased by 0.2% for the month. This was a decline from the 0.4% rise in November and below market expectations of another 0.4% increase. 
U.S. producer prices rose modestly in December, signaling some easing in wholesale inflationary pressures, although energy costs continue to exert upward pressure. The Labor Department reported Tuesday that the producer price index (PPI), which measures price changes at the wholesale level, increased by 0.2% for the month. This was a decline from the 0.4% rise in November and below market expectations of another 0.4% increase. -
China’s Trade Surplus Hits Record High as Exports Surge Ahead of Trump’s Tariff Threats
China's trade surplus soared to a record $104.84 billion in December, driven by a surge in exports as manufacturers raced to fulfill orders ahead of anticipated tariff hikes under President-elect Donald Trump. The robust trade data underscores the nation's reliance on exports amid weakening domestic demand and mounting global trade tensions. 
China's trade surplus soared to a record $104.84 billion in December, driven by a surge in exports as manufacturers raced to fulfill orders ahead of anticipated tariff hikes under President-elect Donald Trump. The robust trade data underscores the nation's reliance on exports amid weakening domestic demand and mounting global trade tensions. -
U.S. Job Market Ends 2024 Strong With 256,000 New Jobs and 4.1% Unemployment
The U.S. labor market closed 2024 with an impressive performance, adding 256,000 jobs in December, well above the 155,000 expected by economists. The unemployment rate dipped to 4.1%, a sign of continued strength in a year marked by resilience and recovery. 
The U.S. labor market closed 2024 with an impressive performance, adding 256,000 jobs in December, well above the 155,000 expected by economists. The unemployment rate dipped to 4.1%, a sign of continued strength in a year marked by resilience and recovery. -
Oil Prices Surge Over 3% Amid Sanctions Concerns and Tight Inventories
Oil prices soared on Friday, with Brent crude reaching its highest levels in over three months, driven by cold weather, declining inventories, and the prospect of further sanctions on key exporters, Russia and Iran. The surge highlights mounting supply concerns as global markets navigate tightening fundamentals and geopolitical uncertainties. 
Oil prices soared on Friday, with Brent crude reaching its highest levels in over three months, driven by cold weather, declining inventories, and the prospect of further sanctions on key exporters, Russia and Iran. The surge highlights mounting supply concerns as global markets navigate tightening fundamentals and geopolitical uncertainties. -
China’s Deflation Concerns Deepen as Inflation Stalls in December
China's economy is facing growing deflationary pressures as consumer inflation slowed to just 0.1% in December, raising fresh concerns about the country's economic recovery. Data released by the National Bureau of Statistics showed that wholesale prices also declined for the 27th consecutive month, highlighting the persistent challenges in revitalizing domestic demand despite months of stimulus measures. 
China's economy is facing growing deflationary pressures as consumer inflation slowed to just 0.1% in December, raising fresh concerns about the country's economic recovery. Data released by the National Bureau of Statistics showed that wholesale prices also declined for the 27th consecutive month, highlighting the persistent challenges in revitalizing domestic demand despite months of stimulus measures.
