High mortgage interest rates remain in the United States. Applications for housing mortgage loans have experienced the largest drop since early April.

According to the Zhitong Finance APP, due to mortgage interest rates staying above 7%, the number of US housing mortgage applications last week experienced the largest decline since early April. Data released by the Mortgage Bankers Association (MBA) on Wednesday showed that the mortgage application index for home purchases decreased by 4.4% for the week ending May 31 (including Memorial Day). The contract rate for 30-year fixed-rate mortgages increased by 2 basis points to 7.07%, the ninth consecutive week above 7%. However, the interest rate for adjustable-rate mortgages with a term of five years decreased by 27 basis points to a two-month low of 6.37%. Mortgage loans.

Zhitong Finance28minutes ago

Dollar Crisis Warning: The US economy is weak, and non-farm data will trigger the market!

The US economy has not shown any major danger signals, but some small worries are accumulating. The manufacturing PMI was in contraction range on Monday. As weak economic data gives the Federal Reserve a strong inclination towards loose policies, the dollar is declining. This Friday, the dollar will face the challenge of May's non-farm employment data.

FX678 Finance03:26 ET

Forex strategists' survey: If the US Federal Reserve cuts interest rates, the US dollar will weaken in the next year.

Forex strategists believe that the recent sustained strengthening of the US dollar will give way to a slight weakening in the next 12 months. They generally believe that the US dollar is overvalued.

Zhitong Finance02:50 ET

Former US Treasury Secretary Summers: Interest rates will remain high in the long term, with a neutral interest rate of 4.5%, and inflation won't return to 2%.

Despite the decline in inflation and economic slowdown, the Federal Reserve continues to maintain the highest interest rates in decades. Former US Treasury Secretary Lawrence Summers believes that the era of low interest rates is gone and long-term interest rates will continue to rise, with neutral interest rates far higher than the Fed's expectations. On Tuesday local time, Summers said in a New York Economic Club online seminar: In the foreseeable future, the market should be accustomed to the current range of interest rates and even the long-term interest rates that are higher than the current level. He also believes that inflation has not gone on a convincing trajectory and is difficult to achieve in the United States.

wallstreetcn21:46 ET

Hong Kong's Business Activity Contracts in May

Business activity in Hong Kong contracted once more in May after improving in March and April due to a fall in new orders and export conditions, according to data from S&P Global released Wednesday.

MT Newswires21:30 ET

Hong Kong PMI Indicates Downturn in Business Conditions -- Market Talk

0121 GMT - The latest S&P PMI data for Hong Kong looks bleak, indicating a worsening of business conditions in the private sector in May. The headline PMI slid to 49.2 in May from 50.6 in April, signa

WSJ21:21 ET