New U.S. home construction slumped in September, adding to evidence that rapidly rising mortgage rates are continuing to cool demand and the once red-hot housing market.
Mortgage demand drops to a 25-year low, as interest rates climb
Mortgage demand, which has suffered four straight months of declines, fell last week to the lowest level since 1997, as interest rates continued to rise.
UK inflation back at 40-year high as food prices soar
Rising food and energy costs drove UK inflation back to a 40-year high in September, but it could be nearing a peak as cash-strapped households pull back on spending amid broader economic turmoil.