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  • Microsoft cuts 10,000 jobs. The company will take a $1.2 billion charge* in the second fiscal quarter related to the move, which will shave 12 cents off of earnings per share. The layoffs come as the software giant said it’s seeing customers exercise caution, with some parts of the world in recession and others heading toward one.
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  • Mortgage demand jumps nearly 28% in one week. Mortgage rates are at the lowest level since September, and that is bringing new demand into the mortgage market. The average contract interest rate for 30-year fixed-rate mortgages decreased last week to 6.23% from 6.42%. Applications for a mortgage to purchase a home increased 25% week to week but were 35% lower* than the same week one year ago.

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