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JPMorgan profit down 17% as dealmaking slumps

The bank set aside $808 million in reserves, as the U.S. Federal Reserve's efforts to cool the economy through interest rate hikes have stoked fears of an economic downturn.

Mortgage rates resume their climb

Freddie Mac said the 30-year fixed-rate mortgage hit it's highest level since 2002 this past week, reaching a high of 6.92%. This is up from 3.05% a year ago in Oct. 2021.