Economic indicators

Non-mortgage interest payments climbed to an annual rate of $573.4 billion in January. That's the highest on record even after adjusting for inflation — and within a hair's breadth of the $578.3 billion in annual mortgage interest that households were shelling out as of the last quarter of 2023.

Federal Reserve Governor Christopher Waller said he'd like to see the central bank's holdings of mortgage-backed securities go to zero. 

The so-called core personal consumption expenditures price index, which strips out the volatile food and energy components, increased 0.4% from December, data out Thursday showed. From a year ago, it advanced 2.8%. Economists consider this to be a better gauge of underlying inflation than the overall index.

The U.S. economy expanded at a slightly slower rate at the end of last year as a downward revision to inventories masked stronger household spending and investment. 

Wall Street saw another busy session of bond sales as issuers looked to borrow before key economic data later this week.

The so-called core consumer price index, which excludes food and energy costs, increased 0.4% from December, more than expected and the most in eight months, according to government figures out Tuesday.

With traders reducing wagers on a rate cut at the Federal Reserve's March meeting and the yield on 10-year Treasuries rising to 4.11%, the highest since Dec. 12, real estate is primed to take a hit.

The benchmark 10-year yield rose as much as nine basis points to 3.97%.

U.S. consumer prices picked up in November, reinforcing the Federal Reserve's resolve to keep interest rates elevated in the near term.

Household net worth decreased $1.3 trillion, or 0.9%, in the third quarter to almost $151 trillion, a Federal Reserve report showed Thursday.