averaged 6.6% as of Jan. 18, according to Freddie Mac data, down 6 basis points from the previous week. A year ago, the 30-year rate was averaging 6.15%. (MarketWatch) Mortgage-purchase applications in the U.S. are up 8% from a month ago, and Redfin says lower mortgage rates are piquing buyers' interest. On the sell side, new listings increased 8% during the four weeks ending Jan. 14. Buyers and sellers are making moves largely because mortgage rates are holding steady in the mid-6% range, down from 8% in October. (Dow Jones Newswires) Manufacturing activity in the Philadelphia area fell for a fifth straight month in January, as the Federal Reserve Bank of Philadelphia's index for current general activity came in at minus 10.6, compared with a downwardly revised minus 12.8 in December. (DJN) Retail sales in the U.K. fell more sharply than expected in December, offering little succor to a listless economy at the end of the year. Total trade volumes were 3.2% lower than a month earlier, according to figures published Friday by the Office for National Statistics. (DJN) Japan's consumer inflation continued to slow in December, reflecting lower energy prices, government data showed Friday. Overall consumer prices rose 2.6% from a year earlier in December, compared with the 2.8% increase in November. (DJN) Feedback Loop
This newsletter is compiled by James Christie in San Francisco.
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This article is a text version of a Wall Street Journal newsletter published earlier today.
(END) Dow Jones Newswires
01-19-24 0715ET
