Here’s how far house prices are set to fall as rates go up, according to forecasting firm

Stocks will trend south after the holiday after earlier optimistic reports that President Joe Biden could cut tariffs on some Chinese goods to ease the sting of inflation. There's not much to explain the moodiness in stocks, which posted gains on Friday but weekly losses on worries of a recession spurred by rising US interest rates. In the US, mortgage applications are down 28% from their peak, new home sales are down 17% and housing starts are down 13%.

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