The impact? It’s been pretty much as expected: a boost for stock market investors and so-so news for savers. But for prospective homebuyers, it’s brought more frustration: Mortgage rates have actually risen in recent weeks. Statewide, the median home price jumped 6.2 percent, to $600,000, as sales fell 3.7 percent.

Many Americans have been priced out of purchasing a home or making a move for years now amid elevated mortgage rates, sky-high home prices, and squeezed budgets due to inflation.

The Bank of Canada is widely expected to reduce its key policy rate by 50 basis points on Wednesday, its fourth cut in a row and what would be the first super-sized reduction in more than 15 years outside of the pandemic era.

China’s major commercial banks have cut their deposit rates for a second time this year, a move that could help ease pressure on lenders’ profits after officials lowered mortgage and lending rates as part of efforts to boost the economy.

China’s largest state-owned lenders have cut their deposit rates on Friday, their second reduction this year as they rushed to salvage record low margins amid weakened profitability.