Economy exceeds expectations in fourth quarter. Annualized gross domestic product jumped 6.9 percent in the final period of last year, largely on the back of an increase in inventories. Personal expenditures contributed nearly 2.3 percent to last quarter’s gain, primarily due to holiday spending that was spread throughout the period…

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Mortgage rates surge to a pandemic-era high. Following a steady but mild ascent at the end of last year, the growth trajectory of the 30-year mortgage rate became much more extreme in January. The rate climbed more than 40 basis points over the span of a few weeks to the mid-3 percent range, nearly realigning with the late 2019 measure…

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