The July jobs report on Friday showed the US economy gained 528,000 jobs last month, with the unemployment rate falling to 3.5% from 3.6%. Economists polled by The Wall Street Journal had expected an addition of 258,000 jobs and unemployment staying at 3.6%. See: Jobs shocker — US adds 528,000 jobs in July and unemployment … Read more
Hi, MarketWatchers. Don’t miss these top stories. Fed’s Mary Daly says ‘I don’t feel the pain of inflation anymore’ — here’s the full context of her remarks The San Francisco Fed president also said ‘we have to worry’ about those who can’t afford rising prices in an interview Wednesday. Here’s what she said in full. … Read more
Shares of Caterpillar Inc. sank Tuesday, after the construction and mining equipment maker reported another disappointing earnings report, with profit beating expectations but sales coming up a bit shy. The CAT company, -5.58% stressed that demand remained “healthy” and “strong,” but results were hampered mostly by continued supply chain constraints, as well as the strong … Read more
For all its downward dips so far this year, the stock market may not be scaring off many retail investors, polling and purchase data suggest. One quarter (26%) of people said the stock market is the best place to tuck away money they won’t need to tap for a decade, according to a new Bankrate.com … Read more
Rents are hitting new highs, but renting is still mostly more affordable than owning a home in most big cities, according to a new report. The national median rent rose for the 16th straight month and reached $1,876 in June, a new high, according to a Realtor.com’s June Rental Report. That’s pricey, but still 29.9% … Read more
Mortgage rates are cooling off after rising sharply. But expect home prices to start slowing, and even dropping, in some of the most overheated markets in the country over the next couple of years. With the average on the 30-year fixed-rate mortgage at 5.7%, some would-be buyers are spooked by the higher borrowing costs and … Read more
Dear MarketWatch, My husband has got a job offer that will give him a 40% pay raise. But we have to move to a more expensive city two hours away. We’ve lived in our home for 24 years, and have no debt left to pay off. We have about a little less than half a … Read more
Both prospective homebuyers and sellers are feeling increasingly annoyed by the housing market and the economy, according to a new survey. Their frustrations were registered by the Fannie Mae Home Purchase Sentiment Index, which dropped by 3.4 points in June to 64.8. That’s the second-lowest reading in a decade. Consumers surveyed were pessimistic about home-buying … Read more
What’s going on with the housing market now? Getty Images Although mortgage interest rates have been slowly ticking up — with some pros saying we may see more of that (you can see the lowest mortgage rates you can get here) — summertime homebuyers have likely noticed that housing price growth doesn’t seem to be … Read more