CNBC Economy

The average rate on the 30-year fixed mortgage shot significantly higher Friday, rising 24 basis points to 4.95%, according to Mortgage News Daily.

Higher mortgage rates are taking their toll on home sales, as a strong housing market begins to turn.

A new Cold War will pose a new challenge to a market that is still recovering from the uncertainties of the pandemic.

Mortgage rates are rising far faster than economists had predicted, and some are now revising their home sales forecasts lower as a result.

Fast-rising mortgage rates are causing a drop in mortgage demand, especially refinances.

Federal Reserve Chairman Jerome Powell vowed tough action on inflation, which he said jeopardizes an otherwise strong recovery.

Consumers hit with higher prices due to inflation likely aren't looking forward to interest rate hikes from the Federal Reserve. Here's why the Fed does that.

The probability of recession in the U.S. was raised to 33% in the next 12 months, up 10 percentage points from the Feb. 1 survey.

The headline producer price index rose 0.8% in February, which actually was slightly lower than the 0.9% Dow Jones estimate.

Single-family rents were up 38.6% in Miami, compared with just a 2% jump for the city in January 2021.

Investors may take the Federal Reserve's first post-pandemic rate hike in stride, while uncertainty surrounding Ukraine continues to hang over markets.

The consumer price index for February was expected to rise 7.8% over the past year, according to Dow Jones estimates.

The Federal Reserve sent $9 trillion into U.S. bond markets amid recent emergencies. Reducing the balance of this portfolio could spark a recession.

Borrowers rushed to take advantage of a brief drop in rates, but those rates are already on the rise again.

The CNBC Rapid Update, the average of 14 forecasts for the U.S. economy, sees GDP rising by 3.2% this year, a modest 0.3% markdown from the February forecast.

Some retailers, including Victoria's Secret, are warning about business impacts from the Ukraine crisis. Others, like Nike, have suspended operations in Russia.

Nonfarm payrolls for the month grew by 678,000 and the unemployment rate was 3.8%, the Labor Department reported Friday.

The economy was likely to have added jobs at a healthy pace in February and wages gains were strong.

Initial claims for unemployment insurance totaled 215,000, the lowest total since the beginning of the year.

Mortgage demand fell last week as rates rose, but that may all change this week as rates drop again, and sharply.