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Mortgage rates jump as Iran conflict hits housing market

Mortgage rates spiked this week as the conflict in Iran continues to weigh on markets, mortgage buyer Freddie Mac said Thursday. Freddie Mac’s latest Primary Mortgage Market Survey, released Thursday, showed the average rate on the benchmark 30-year fixed mortgage rose to 6.38% from last week’s reading of 6.22%. The average…

Not so fast: Brussels snubs Merz’s suggestion for EU-China trade deal

The European Commission has cast aside German Chancellor Friedrich Merz’s suggestion to pursue a trade deal between the European Union and China, calling instead on Beijing to “meaningfully” address its distortive economic practices. ADVERTISEMENT ADVERTISEMENT The bloc, like most developed economies, is struggling to contain a ballooning trade deficit with…