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Average U.S. long-term mortgage rate falls to 6.19%, near its low for the year

(AP) — The average rate on a 30-year U.S. mortgage fell again this week, slipping close to its low point so far this year. The decline brings the average long-term mortgage rate to 6.19% from 6.23% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the rate averaged 6.69%. This is the second straight weekly drop in the average rate after three straight increases. It’s now at the lowest level since Oct. 30, when it was at 6.17%, the lowest level in more than a year. Borrowing costs on 15-year fixed-rate mortgages, popular with homeowners refinancing their home ...

Wall Street pulls near its all-time high

NEW YORK (AP) — U.S. stocks rose near their record levels on Wednesday as mixed data on the economy kept alive hopes that a cut to interest rates is coming soon. The S&P 500 gained 0.3% and pulled within 0.6% of its all-time high set in late October. The Dow Jones Industrial Average ...

Wall Street rises as bond yields and bitcoin stabilize

NEW YORK (AP) — The U.S. stock market is bouncing back on Tuesday as both bond yields and bitcoin stabilize. The S&P 500 rose 0.4%, coming off its first loss in six days. The Dow Jones Industrial Average was up 262 points, or 0.6%, with less than an hour remaining in trading, and the ...

U.S. stocks fall to their first loss in 6 days as bitcoin tumbles

NEW YORK (AP) — U.S. stocks gave back some of last week’s rally, as bitcoin fell again on Monday. The S&P 500 slipped 0.5% and broke a five-day winning streak. The Dow Jones Industrial Average dropped 427 points, or 0.9%, and the Nasdaq composite dipped 0.4%. Last week’s rally was largely due to rising hopes that the Federal Reserve will cut its main interest rate next week to help shore up the slowing job market. Such hopes are still high, with traders betting on a roughly 85% chance the Fed will cut at its next meeting, according to data from CME Group. But yields for ...

Stocks rally on hopes for lower interest rates as Dow jumps 660 points

NEW YORK (AP) — The U.S. stock market is climbing again Tuesday on hopes for a coming cut to interest rates. The S&P 500 rose 0.8% after breaking out of a morning lull, where it bobbed between small gains and losses. The Dow Jones Industrial Average was up 650 points, or 1.4%, with less than an hour remaining in trading, and the Nasdaq composite was 0.5% higher. Stocks got a boost from easing yields in the bond market. Lower interest rates can cover up many sins in financial markets, including prices going too high, and hopes are high that the Federal Reserve will cut its main ...

Another rally for Alphabet leads the U.S. stock market higher

NEW YORK (AP) — The U.S. stock market rallied on Monday, at the start of a week with shortened trading because of the Thanksgiving holiday. The S&P 500 climbed 1.5% for one of its best days since the summer and added to its jump from Friday, finding some strength following a shaky few ...