Stocks Rally, Mortgages Cheaper as Fed Pauses Rate Hikes
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The Fed's decision to pause interest rate hikes has sparked a stock market rally that could have more room to run as outlook improves.
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Areas like oil, gold, clean energy stocks, and financial stocks are seeing notable gains amid the Fed euphoria.
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Retail sales rebounded in November, pointing to continued consumer resilience despite high rates.
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Mortgage rates fell below 7% for the first time since August, boosting homebuyer sentiment.
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With the Fed signaling potential rate cuts in 2024, mortgage rates are expected to continue falling.