PRESS DIGEST- British Business - June 23
June 23 The following are the top stories on the business pages of British newspapers. Reuters has not verified these stories and does not vouch for their accuracy.
(Adds details, table) NEW YORK, Nov 23 The average interest rate on U.S. 30-year fixed-rate mortgages rose above 4 percent to a 16-month high, in step with rising U.S. government bond yields, mortgage finance agency Freddie Mac said on Wednesday. The borrowing cost on 30-year mortgages, the most widely held type of U.S. home loan, averaged 4.03 percent in the week ended Nov. 23, which was the highest since 4.04 percent in the week of July 23, 2015. Last week, 30-year mortgage rates averaged 3.94 percent, it said. Average rates on 15-year fixed mortgages rose to their highest since early January, while average five-year adjustable loan rates reached their highest since April 2014, according to Freddie Mac. On Wednesday, benchmark 10-year Treasury yields rose as high as 2.417 percent, a 16-month peak, after a report showing stronger-than-expected data on durable goods orders in October. Since Donald Trump's U.S. presidential victory on Nov. 8, ten-year Treasury yields have risen more than half a percentage point as traders scale back their bond holdings on worries about rising inflation that could result from tax cuts and lower federal spending during the Trump administration. Below is a summary of Freddie Mac's average mortgage rates in the week ended Nov. 23: Loan type Latest week (pct) Week ago (pct) Year ago (pct) 30-year fixed 4.03 3.94 3.95 15-year fixed 3.25 3.14 3.18 5-year ARM 3.12 3.07 3.01 (Reporting by Richard Leong; Editing by Chizu Nomiyama)
(Adds details on mutual funds and ETFs, analyst quote, table, byline) By Trevor Hunnicutt NEW YORK, June 22 Investors pulled back from U.S.-based stock funds after pouring the most cash into those investments since February the previous week, Lipper data showed on Thursday. Withdrawals of $2.2 billion struck U.S.-based equity mutual funds and exchange-traded funds during the week ended June 21, the research service said, during a rollercoaster week for stocks and as the
CHICAGO, June 22 The United States halted imports of fresh Brazilian beef on Thursday, the U.S. Department of Agriculture said, after a high percentage of shipments failed to pass safety checks.