According to the latest Freddie Mac update, the 30 Year Fixed has jumped to 4.16%, from 3.94% just a month ago, and 3.5% as of early October. But more troubling was Freddie’s explicit warning, that “if rates continue their upward trend, expect mortgage activity to be significantly subdued in 2017.” Source: Zero Hedge
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Italy’s plans to bail out two regional banks pose a tough dilemma to European regulators, who are still considering whether Monte dei Paschi qualifies for state aid, three months after giving a preliminary green light. Source Reuters
Turkey will buy two batteries of S-400 surface-to-air missile systems from Russia in order to fulfil the country’s urgent requirement, Daily Sabah learned from security sources. The procurement agreement will likely be concluded when the Russian and Turkish finance ministers complete the loan agreement, the sources also indicated. Source Daily Sabah
Five companies default in Jan-Feb brings total bankrupt E&Ps to 119. Five oil and gas companies have gone bankrupt in the first two months of this year, according to the most recent edition of Haynes and Boone’s Oil Patch Bankruptcy Monitor. Currently 119 E&P companies have entered bankruptcy since the beginning of 2015. Source Oil & Gas 360