Mortgage Rates Climb, Bitcoin Recovers, FDA Targets Copycat Drugs: Bloomberg Money Minute

Mortgage Rates and Real Estate

• 📈 Mortgage rates have climbed for a third consecutive week, reaching an average of 6.11% for a 30-year fixed-rate loan, according to Freddy Mac.
• 🏠 Despite sluggishness, the real estate market faces its busiest season in the coming months, which will be a true test.

Bitcoin's Volatility

• 🚀 Bitcoin is showing a rebound, trading back above $68,000 after a dip to $60,000.
• 📉 However, the cryptocurrency remains significantly below its all-time high of $126,000 reached in October.

FDA Action on Copycat Drugs

• ⚠️ The FDA commissioner has stated the agency will take action against companies marketing illegal copycat drugs.
• 💊 This follows the launch of a cheaper version of Novo Nordisk's Wegovy pill by the telehealth firm Hims & Hers for $49.
• 🚫 The FDA cannot verify the quality and safety of non-approved drugs, according to the commissioner.