Page 30 - Rate Increases News Today : Breaking News, Live Updates & Top Stories | Vimarsana

The city says a rate increase is needed to help pay for major water and sewer projects,

Around 20 protesters gathered before Monday’s City Council meeting, saying the proposed rate hike is too much to bear.

The dollar stayed on the back foot on Friday and was on course for a weekly decline against a basket of currencies as traders wagered that the U.S. Federal Reserve was most likely done with rate increases, lifting risk sentiment. The Fed, however, left the door open to a further increase in borrowing costs in a nod to the economy's resilience.

(Bloomberg) -- The Federal Reserve signaled that a run-up in long-term Treasury yields reduces the impetus to raise interest rates again, even as Chair Jerome Powell left the door open to another hike to tame inflation.Most Read from BloombergImmigrants Are Leaving Canada at Faster Pace, Study ShowsReal Estate Industry Takes Fresh Hit With Verdict on CommissionsIsrael Latest: Biden Says Urgent Efforts Led to Gaza DeparturesIsrael Latest: Blinken Returning to Israel; Refugee Camp HitMarkets Rally

Mortgage rates hovering near 8% — the highest level in 23 years — are taking a toll on the housing market. Demand for housing loans has fallen to the lowest level since 1996, with total application volume declining 6.9% over seven days ending Oct. 18, according to the Mortgage Bankers Association's seasonally adjusted index. The median home price has surged to $407,100, with the existing housing stock representing only a 3.3-month supply. Given the housing shortage, housing inventory needs to do