Data shows that housing has become increasingly less affordable over the years.
Average rates for a 30-year fixed mortgage were 7.4% the week of Oct. 15, according to Freddie Mac data. That’s the highest in about three years — since November 2023 — and up from about 6.3% a year ago. Outside of the post-pandemic period, average mortgage rates haven’t been this high since 2000, according to Freddie Mac data.
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Data-center orders grew at a triple-digit rate year over year in Q3, helping lift ABB’s total order intake to a record $12.1 billion.
Group orders rose 40%, while revenue increased 14% to $9.7 billion.
ABB says it is expanding capacity gradually, improving productivity through automation and selectively using third-party assembly. Capital spending is running at about $1 billion, a level the company does not expect to increase further over the medium term.
Data-center infrastructure company Elice plunged in its trading debut on South Korea’s tech-heavy Kosdaq market after raising $151 million in the bourse’s biggest initial public offering this year.
Data-center infrastructure company Elice plunged in its trading debut on South Korea’s tech-heavy Kosdaq market after raising $151 million in the bourse’s biggest initial public offering this year.