Weekly News Roundup

Stay up-to-date on the latest news stories and trends that popped up during the past week.

Apartment Demand, Rental Rates Hold Steady Against Unprecedented Supply in Healthy-But-Slowing Apartment Market

The U.S. multifamily market continued its historic run in the third quarter as demand for apartment units remained strong, matching a surge in new supply as developers continue to add new units at a record pace.

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Yellen Says Fed Could Raise Rates 'Relatively Soon'

The Federal Reserve could raise U.S. interest rates “relatively soon” if economic data keeps pointing to an improving labor market and rising inflation, Fed Chair Janet Yellen said on Thursday in a clear hint the U.S. central bank could hike next month.

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Mortgage Rates Spike to Near Yearly Highs Following Trump Victory

The sharpest spike of the year in mortgage rates came after Donald Trump’s win. According to the latest data released Thursday by Freddie Mac, the 30-year fixed-rate average soared to 3.94 percent this week with an average 0.5 point. (Points are fees paid to a lender equal to 1 percent of the loan amount.) That’s 37 basis points higher than a week ago when it was 3.57 percent and the fifth-largest one-week jump in the 30-year fixed rate since 2000. (A basis point is 0.01 percentage point.) It was 3.97 percent a year ago. The 30-year fixed rate hasn’t been this high since January.

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