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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Airbus SE said it will almost halve production of its slow-selling A380 superjumbo, casting further doubt over the program’s future, while warning that engine glitches are still weighing on deliveries of the single-aisle A320 that’s due to become its largest-volume model. Source Bloomberg
Ankara’s purchase of the S-400 missile defense systems from Russia should not be worrying President Recep Tayyip Erdoğan said, as he announced the deal with Russia has been signed Source Daily Sabah
Media reports claiming that Turkey would buy Russian S-400 air defense systems were not true, U.S. Marine Corps Gen. Joseph Dunford said at a security forum in Aspen, Colorado on July 23. Source Hurriyet Daily